AxoGen (NASDAQ:AXGN) Hits New 52-Week High – Still a Buy?

AxoGen, Inc. (NASDAQ:AXGN)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $36.00 and last traded at $35.66, with a volume of 275845 shares trading hands. The stock had previously closed at $34.85.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AXGN. JMP Securities set a $34.00 price objective on AxoGen in a research report on Thursday, October 30th. Wall Street Zen raised shares of AxoGen from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 23rd. Canaccord Genuity Group lifted their target price on shares of AxoGen from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Citigroup reissued a “market outperform” rating on shares of AxoGen in a research note on Thursday, October 30th. Finally, Jefferies Financial Group lifted their price objective on AxoGen from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, AxoGen has a consensus rating of “Moderate Buy” and an average target price of $35.56.

AxoGen Stock Down 2.8%

The firm has a market capitalization of $1.58 billion, a PE ratio of -684.40 and a beta of 1.00. The company has a current ratio of 4.09, a quick ratio of 2.64 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average of $31.79 and a two-hundred day moving average of $22.64.

Insider Activity

In other news, Director Paul Thomas sold 21,399 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $29.61, for a total value of $633,624.39. Following the transaction, the director owned 13,528 shares of the company’s stock, valued at approximately $400,564.08. This trade represents a 61.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Lindsey Marie Hartley sold 14,812 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $29.86, for a total transaction of $442,286.32. Following the sale, the chief financial officer directly owned 31,376 shares of the company’s stock, valued at approximately $936,887.36. This trade represents a 32.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 329,845 shares of company stock worth $9,850,330. Insiders own 2.78% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC acquired a new stake in shares of AxoGen in the third quarter valued at about $27,000. Aquatic Capital Management LLC boosted its holdings in AxoGen by 287.8% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 1,269 shares during the period. State of Alaska Department of Revenue purchased a new position in AxoGen in the 3rd quarter worth approximately $43,000. Tower Research Capital LLC TRC grew its position in AxoGen by 189.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,079 shares of the medical equipment provider’s stock valued at $55,000 after acquiring an additional 3,327 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of AxoGen during the third quarter valued at approximately $64,000. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Company Profile

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.