AxoGen (NASDAQ:AXGN) Hits New 12-Month High – Still a Buy?

Shares of AxoGen, Inc. (NASDAQ:AXGN) reached a new 52-week high on Thursday . The stock traded as high as $45.99 and last traded at $45.5250, with a volume of 3220 shares. The stock had previously closed at $44.57.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AXGN shares. Zacks Research upgraded AxoGen from a “strong sell” rating to a “hold” rating in a research report on Friday, May 29th. Canaccord Genuity Group increased their price target on AxoGen from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Lake Street Capital increased their target price on AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Wells Fargo & Company increased their target price on AxoGen from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Finally, HC Wainwright increased their price target on AxoGen from $39.00 to $50.00 and gave the stock a “buy” 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $46.50.

AxoGen Price Performance

The stock has a 50 day simple moving average of $39.93 and a two-hundred day simple moving average of $34.93. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -70.44 and a beta of 1.12. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.10 and a quick ratio of 5.33.

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

Insiders Place Their Bets

In other news, Director Kathy Johnson Weiler sold 16,344 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $44.09, for a total value of $720,606.96. Following the transaction, the director owned 16,344 shares in the company, valued at approximately $720,606.96. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Johnson sold 11,050 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $43.26, for a total value of $478,023.00. Following the completion of the transaction, the director owned 11,050 shares in the company, valued at approximately $478,023. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,041 shares of company stock worth $1,268,792 in the last quarter. 2.44% of the stock is owned by company insiders.

Institutional Trading of AxoGen

Large investors have recently made changes to their positions in the company. MCF Advisors LLC acquired a new stake in shares of AxoGen in the 4th quarter valued at about $30,000. Aquatic Capital Management LLC boosted its position in shares of AxoGen by 287.8% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 1,269 shares during the period. Arax Advisory Partners boosted its position in shares of AxoGen by 362.4% in the 4th 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. Caitong International Asset Management Co. Ltd acquired a new stake in shares of AxoGen in the 4th quarter valued at about $36,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of AxoGen in the 4th quarter valued at about $39,000. 80.29% of the stock is owned by institutional investors and hedge funds.

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.