AxoGen (NASDAQ:AXGN) Reaches New 52-Week High – Should You Buy?

AxoGen, Inc. (NASDAQ:AXGN) reached a new 52-week high during trading on Wednesday. The company traded as high as $53.87 and last traded at $53.7260, with a volume of 963,946 shares. The stock had previously closed at $50.89.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AXGN. Citizens Jmp upped their price target on AxoGen from $50.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 30th. Wells Fargo & Company upped their target price on shares of AxoGen from $48.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Citigroup reiterated a “market outperform” rating on shares of AxoGen in a report on Thursday, July 30th. Canaccord Genuity Group boosted their price target on shares of AxoGen from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of AxoGen in a research report on Wednesday, August 26th. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.92.

AxoGen Stock Performance

The business’s fifty day moving average is $42.77 and its two-hundred day moving average is $40.10. The stock has a market capitalization of $3.21 billion, a PE ratio of -82.62 and a beta of 1.21. The company has a quick ratio of 10.67, a current ratio of 12.02 and a debt-to-equity ratio of 0.04.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. AxoGen had a negative net margin of 11.96% and a negative return on equity of 5.35%. The company had revenue of $75.83 million for the quarter, compared to the consensus estimate of $73.45 million. As a group, research analysts anticipate that AxoGen, Inc. will post -0.36 EPS for the current fiscal year.

Insider Activity

In other news, Director Joseph Tyndall sold 3,500 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $49.70, for a total transaction of $173,950.00. Following the sale, the director directly owned 10,650 shares in the company, valued at approximately $529,305. This represents a 24.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.44% of the company’s stock.

Institutional Investors Weigh In On AxoGen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stephens Investment Management Group LLC raised its position in AxoGen by 336.8% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,130,854 shares of the medical equipment provider’s stock worth $47,405,000 after purchasing an additional 871,949 shares during the period. Global Retirement Partners LLC grew its stake in shares of AxoGen by 2,822.7% during the third quarter. Global Retirement Partners LLC now owns 643 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 621 shares during the last quarter. White Pine Capital LLC purchased a new stake in shares of AxoGen in the third quarter worth approximately $1,812,000. Russell Investments Group Ltd. raised its holdings in shares of AxoGen by 163.7% in the third quarter. Russell Investments Group Ltd. now owns 334,902 shares of the medical equipment provider’s stock worth $14,039,000 after buying an additional 207,916 shares during the period. Finally, Lisanti Capital Growth LLC lifted its stake in shares of AxoGen by 21.9% during the 3rd quarter. Lisanti Capital Growth LLC now owns 110,420 shares of the medical equipment provider’s stock worth $4,629,000 after acquiring an additional 19,855 shares during the last quarter. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

About AxoGen

AxoGen, Inc. is a medical technology company focused on repairing peripheral nerve injuries—damage to nerves outside the brain and spinal cord. Its products are used by surgeons in procedures intended to restore nerve function and sensation. The company’s offerings include Avance Nerve Graft, a processed human nerve allograft used to bridge gaps in damaged nerves, and Axoguard products designed to protect, connect or cap nerves during repair. Axogen also provides education and support for healthcare professionals who use its nerve-repair solutions.