AxoGen (NASDAQ:AXGN) Sets New 12-Month High – Here’s What Happened

AxoGen, Inc. (NASDAQ:AXGN)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $29.41 and last traded at $28.5960, with a volume of 792 shares traded. The stock had previously closed at $28.65.

Analyst Upgrades and Downgrades

AXGN has been the subject of several research analyst reports. Citizens Jmp raised their price target on AxoGen from $26.00 to $34.00 and gave the company a “market outperform” rating in a report on Thursday, October 30th. Mizuho began coverage on AxoGen in a research report on Monday. They set an “outperform” rating and a $40.00 target price for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of AxoGen in a report on Monday. Jefferies Financial Group restated a “buy” rating on shares of AxoGen in a research report on Wednesday, October 29th. Finally, Raymond James Financial increased their price objective on shares of AxoGen from $20.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.25.

AxoGen Stock Down 2.9%

The company has a market cap of $1.28 billion, a PE ratio of -553.80 and a beta of 1.06. The company has a fifty day moving average of $21.18 and a two-hundred day moving average of $15.88. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.64 and a current ratio of 4.09.

AxoGen (NASDAQ:AXGN) last posted its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. AxoGen had a negative net margin of 0.98% and a negative return on equity of 1.90%. The company had revenue of $60.08 million during the quarter, compared to analyst estimates of $56.90 million. As a group, analysts anticipate that AxoGen, Inc. will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director William P. Mr. Burke sold 40,235 shares of the stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $20.55, for a total value of $826,829.25. Following the sale, the director directly owned 100 shares of the company’s stock, valued at $2,055. This represents a 99.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 133,600 shares of company stock worth $2,839,945. Corporate insiders own 2.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AXGN. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of AxoGen during the 1st quarter worth approximately $146,000. XTX Topco Ltd increased its stake in AxoGen by 33.5% in the first quarter. XTX Topco Ltd now owns 23,111 shares of the medical equipment provider’s stock worth $428,000 after purchasing an additional 5,805 shares during the period. Vanguard Group Inc. increased its stake in AxoGen by 4.6% in the first quarter. Vanguard Group Inc. now owns 2,538,607 shares of the medical equipment provider’s stock worth $46,964,000 after purchasing an additional 112,679 shares during the period. Swiss National Bank purchased a new stake in AxoGen in the first quarter worth $1,498,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of AxoGen by 17.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 339,711 shares of the medical equipment provider’s stock worth $6,285,000 after purchasing an additional 50,966 shares during the last quarter. Institutional investors own 80.29% of the company’s stock.

About AxoGen

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company’s products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral 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 peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.