AxoGen (NASDAQ:AXGN) Reaches New 52-Week High – Time to Buy?

AxoGen, Inc. (NASDAQ:AXGN)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $45.98 and last traded at $44.69, with a volume of 1099183 shares. The stock had previously closed at $44.95.

Analyst Ratings Changes

A number of analysts have recently weighed in on AXGN shares. HC Wainwright upped their target price on AxoGen from $39.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Lake Street Capital boosted their price target on AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Zacks Research raised shares of AxoGen from a “strong sell” rating to a “hold” rating in a research report on Friday, May 29th. Canaccord Genuity Group increased their price objective on shares of AxoGen from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Citizens Jmp boosted their target price on shares of AxoGen from $42.00 to $50.00 and gave the company a “market outperform” rating in a research report on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.50.

AxoGen Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.33 and a current ratio of 7.10. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -69.83 and a beta of 1.12. The business has a fifty day moving average price of $40.92 and a 200 day moving average price of $35.39.

AxoGen (NASDAQ:AXGN) last released its earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The business had revenue of $61.46 million during the quarter, compared to the consensus estimate of $57.85 million. AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. As a group, research analysts anticipate that AxoGen, Inc. will post -0.37 earnings per share for the current year.

Insider Buying and Selling at AxoGen

In related news, Director Kathy Johnson Weiler sold 16,344 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $44.09, for a total transaction of $720,606.96. Following the sale, the director owned 16,344 shares of the company’s stock, valued at $720,606.96. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Amy Mcbride Wendell sold 1,647 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $42.60, for a total value of $70,162.20. Following the sale, the director owned 93,826 shares in the company, valued at $3,996,987.60. This represents a 1.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,041 shares of company stock worth $1,268,792 over the last quarter. Corporate insiders own 2.44% of the company’s stock.

Institutional Trading of AxoGen

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its stake in shares of AxoGen by 1.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 21,473 shares of the medical equipment provider’s stock valued at $703,000 after acquiring an additional 371 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in AxoGen by 6.2% in the first quarter. PNC Financial Services Group Inc. now owns 8,943 shares of the medical equipment provider’s stock valued at $296,000 after purchasing an additional 525 shares during the period. Arax Advisory Partners increased its holdings in AxoGen by 362.4% in the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 819 shares during the period. Brooklyn Investment Group raised its position in AxoGen by 4.2% during the 4th quarter. Brooklyn Investment Group now owns 20,568 shares of the medical equipment provider’s stock worth $688,000 after purchasing an additional 823 shares during the last quarter. Finally, MCF Advisors LLC bought a new position in AxoGen during the 4th quarter worth $30,000. 80.29% of the stock is currently owned by institutional investors.

About AxoGen

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.