AxoGen (NASDAQ:AXGN) Hits New 1-Year High – What’s Next?

AxoGen, Inc. (NASDAQ:AXGN)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $25.09 and last traded at $24.9250, with a volume of 165129 shares. The stock had previously closed at $24.01.

Analyst Upgrades and Downgrades

AXGN has been the subject of a number of recent analyst reports. Wall Street Zen raised AxoGen from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Canaccord Genuity Group upped their price target on shares of AxoGen from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. JMP Securities set a $34.00 price objective on shares of AxoGen in a research note on Thursday, October 30th. HC Wainwright boosted their price objective on AxoGen from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Raymond James Financial raised their price target on shares of AxoGen from $20.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Eight analysts have rated the stock with a Buy 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 an average price target of $28.86.

AxoGen Stock Up 4.1%

The stock’s 50-day moving average price is $19.01 and its 200-day moving average price is $14.86. The company has a market cap of $1.15 billion, a P/E ratio of -499.70 and a beta of 1.09. The company has a current ratio of 4.14, a quick ratio of 2.67 and a debt-to-equity ratio of 0.59.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Wednesday, October 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. AxoGen had a negative return on equity of 1.96% and a negative net margin of 0.98%.The company had revenue of $60.08 million for the quarter, compared to analyst estimates of $56.90 million. AxoGen has set its FY 2025 guidance at EPS. As a group, research analysts forecast that AxoGen, Inc. will post -0.29 EPS for the current year.

Insider Buying and Selling

In other news, Director William P. Mr. Burke sold 3,591 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $24.02, for a total transaction of $86,255.82. Following the completion of the transaction, the director owned 100 shares in the company, valued at approximately $2,402. This represents a 97.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 133,600 shares of company stock worth $2,839,945 in the last 90 days. Company insiders own 2.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Future Financial Wealth Managment LLC purchased a new position in shares of AxoGen in the third quarter worth $27,000. Aquatic Capital Management LLC lifted its holdings in AxoGen by 287.8% in the third quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 1,269 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of AxoGen in the 3rd quarter worth about $43,000. AdvisorNet Financial Inc boosted its holdings in AxoGen by 500.0% in the third quarter. AdvisorNet Financial Inc now owns 4,800 shares of the medical equipment provider’s stock worth $86,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of 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 worth $55,000 after acquiring an additional 3,327 shares during the last quarter. Hedge funds and other 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.