AxoGen (NASDAQ:AXGN) Sets New 1-Year High – Here’s What Happened

Shares of AxoGen, Inc. (NASDAQ:AXGN) hit a new 52-week high during trading on Monday . The company traded as high as $46.95 and last traded at $44.7710, with a volume of 117338 shares traded. The stock had previously closed at $45.89.

Analysts Set New Price Targets

Several brokerages have commented on AXGN. Citigroup reissued an “outperform” rating on shares of AxoGen in a research report on Wednesday, April 29th. Lake Street Capital lifted their target price on AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. HC Wainwright upped their target price on AxoGen from $39.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Raymond James Financial reissued an “outperform” rating and set a $48.00 price target on shares of AxoGen in a research report on Wednesday, April 29th. Finally, Wall Street Zen raised AxoGen from a “hold” rating to a “buy” rating in a research report on Saturday. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, AxoGen currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.50.

AxoGen Trading Down 1.9%

The business’s 50 day simple moving average is $42.32 and its 200 day simple moving average is $36.17. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -70.21 and a beta of 1.09. The company has a quick ratio of 5.33, a current ratio of 7.10 and a debt-to-equity ratio of 0.08.

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

Insider Activity

In other AxoGen news, Director John Johnson sold 11,050 shares of AxoGen stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $43.26, for a total transaction of $478,023.00. Following the completion of the transaction, the director directly owned 11,050 shares of the company’s stock, valued at $478,023. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy Mcbride Wendell sold 1,647 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $42.60, for a total transaction of $70,162.20. Following the completion of the transaction, the director owned 93,826 shares in the company, valued at approximately $3,996,987.60. This represents a 1.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,041 shares of company stock valued at $1,268,792 over the last three months. Insiders own 2.44% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. California State Teachers Retirement System grew its position in shares of AxoGen by 51.9% in the first quarter. California State Teachers Retirement System now owns 59,129 shares of the medical equipment provider’s stock valued at $1,959,000 after purchasing an additional 20,203 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in AxoGen by 66.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 22,166 shares of the medical equipment provider’s stock worth $734,000 after purchasing an additional 8,844 shares during the last quarter. SummitTX Capital L.P. bought a new stake in AxoGen in the 1st quarter valued at $7,769,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in AxoGen in the 1st quarter valued at $3,847,000. Finally, Public Employees Retirement System of Ohio acquired a new position in AxoGen in the 1st quarter valued at $1,720,000. 80.29% of the stock is owned by institutional investors.

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.