AxoGen (NASDAQ:AXGN) Hits New 1-Year High – Here’s Why

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AXGN shares. JMP Securities set a $34.00 target price on AxoGen in a research report on Thursday, October 30th. Canaccord Genuity Group lifted their price objective on AxoGen from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Mizuho started coverage on shares of AxoGen in a report on Monday. They issued an “outperform” rating and a $40.00 target price on the stock. Jefferies Financial Group restated a “buy” rating on shares of AxoGen in a report on Wednesday, October 29th. Finally, Citigroup restated a “market outperform” rating on shares of AxoGen in a research note on Thursday, October 30th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, AxoGen presently has an average rating of “Moderate Buy” and a consensus price target of $30.25.

AxoGen Trading Down 1.1%

The business’s 50 day simple moving average is $20.75 and its 200 day simple moving average is $15.65. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.14 and a quick ratio of 2.67. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -566.80 and a beta of 1.09.

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

Insider Transactions at AxoGen

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

Institutional Trading of AxoGen

Several hedge funds and other institutional investors have recently made changes to their positions in AXGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of AxoGen by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock valued at $466,000 after acquiring an additional 1,057 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of AxoGen by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 16,194 shares of the medical equipment provider’s stock valued at $176,000 after purchasing an additional 1,079 shares in the last quarter. Arizona State Retirement System raised its position in shares of AxoGen by 10.0% during the 3rd quarter. Arizona State Retirement System now owns 12,801 shares of the medical equipment provider’s stock worth $228,000 after purchasing an additional 1,164 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in AxoGen by 11.7% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 11,193 shares of the medical equipment provider’s stock valued at $200,000 after buying an additional 1,173 shares during the last quarter. Finally, Aquatic Capital Management LLC raised its holdings in shares of 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 acquiring an additional 1,269 shares during the last quarter. Institutional investors and hedge funds 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.