AxoGen, Inc. (AXGN) Sets New 12-Month High at $19.85
AxoGen, Inc. (NASDAQ:AXGN)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $19.85 and last traded at $19.85, with a volume of 63,135 shares changing hands. The stock had previously closed at $19.50.
AXGN has been the subject of several recent research reports. Cantor Fitzgerald initiated coverage on AxoGen in a research report on Thursday, June 29th. They set an “overweight” rating and a $18.00 price objective for the company. BidaskClub lowered AxoGen from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Leerink Swann initiated coverage on AxoGen in a research report on Monday, July 31st. They set an “outperform” rating and a $22.00 price objective for the company. Finally, Roth Capital reissued a “buy” rating and set a $21.00 price objective (up previously from $18.00) on shares of AxoGen in a research report on Tuesday, September 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. AxoGen currently has an average rating of “Buy” and a consensus price target of $17.40.
The company’s 50-day moving average is $18.43 and its 200 day moving average is $15.34. The stock’s market capitalization is $651.68 million.
AxoGen (NASDAQ:AXGN) last posted its quarterly earnings results on Wednesday, August 2nd. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. AxoGen had a negative return on equity of 114.64% and a negative net margin of 27.50%. The business had revenue of $15.20 million for the quarter, compared to the consensus estimate of $14.40 million. During the same quarter in the prior year, the company earned ($0.09) EPS. The business’s revenue was up 46.2% compared to the same quarter last year. On average, equities research analysts forecast that AxoGen, Inc. will post ($0.31) EPS for the current fiscal year.
In related news, Director Robert James Rudelius sold 16,143 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $18.00, for a total transaction of $290,574.00. Following the sale, the director now owns 43,273 shares of the company’s stock, valued at $778,914. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 9.33% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Parametric Portfolio Associates LLC boosted its position in AxoGen by 0.9% during the first quarter. Parametric Portfolio Associates LLC now owns 10,843 shares of the medical equipment provider’s stock valued at $113,000 after purchasing an additional 93 shares in the last quarter. Nationwide Fund Advisors boosted its position in AxoGen by 5.5% during the second quarter. Nationwide Fund Advisors now owns 14,874 shares of the medical equipment provider’s stock valued at $249,000 after purchasing an additional 774 shares in the last quarter. Bank of America Corp DE boosted its position in AxoGen by 8.7% during the first quarter. Bank of America Corp DE now owns 10,183 shares of the medical equipment provider’s stock valued at $106,000 after purchasing an additional 814 shares in the last quarter. American International Group Inc. boosted its position in AxoGen by 7.7% during the first quarter. American International Group Inc. now owns 14,941 shares of the medical equipment provider’s stock valued at $156,000 after purchasing an additional 1,068 shares in the last quarter. Finally, UBS Group AG boosted its position in AxoGen by 8.3% during the first quarter. UBS Group AG now owns 16,141 shares of the medical equipment provider’s stock valued at $169,000 after purchasing an additional 1,234 shares in the last quarter. 66.47% of the stock is currently owned by institutional investors.
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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