AxoGen (AXGN) Reaches New 1-Year High at $35.70

AxoGen, Inc. (NASDAQ:AXGN) hit a new 52-week high on Wednesday . The stock traded as high as $35.70 and last traded at $35.85, with a volume of 99947 shares. The stock had previously closed at $35.15.

Several equities research analysts have weighed in on AXGN shares. Lake Street Capital upped their price target on AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, November 21st. Wedbush restated a “buy” rating and set a $27.00 price target (up previously from $22.00) on shares of AxoGen in a report on Tuesday, November 21st. Jefferies Group started coverage on AxoGen in a report on Thursday, November 30th. They set a “buy” rating and a $35.00 price target on the stock. BidaskClub downgraded AxoGen from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 11th. Finally, Cantor Fitzgerald set a $37.00 price objective on AxoGen and gave the company a “buy” rating in a report on Monday, January 8th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. AxoGen has a consensus rating of “Buy” and a consensus price target of $31.71.

The firm has a market capitalization of $1,230.00, a price-to-earnings ratio of -119.68 and a beta of 0.58. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.53 and a current ratio of 4.07.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Wednesday, February 28th. The medical equipment provider reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. AxoGen had a negative return on equity of 70.63% and a negative net margin of 17.29%. The business had revenue of $16.97 million for the quarter, compared to the consensus estimate of $16.38 million. During the same quarter in the prior year, the business posted ($0.10) EPS. The business’s revenue for the quarter was up 48.7% on a year-over-year basis. sell-side analysts expect that AxoGen, Inc. will post -0.28 earnings per share for the current year.

In other news, Director Jamie Mark Grooms sold 63,395 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $27.67, for a total value of $1,754,139.65. Following the transaction, the director now owns 5,827 shares in the company, valued at approximately $161,233.09. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 169,407 shares of company stock worth $4,593,013. Company insiders own 9.33% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Paloma Partners Management Co purchased a new position in shares of AxoGen in the 4th quarter valued at about $215,000. Guggenheim Capital LLC acquired a new stake in shares of AxoGen in the 4th quarter valued at about $228,000. Valeo Financial Advisors LLC acquired a new stake in shares of AxoGen in the 3rd quarter valued at about $244,000. Gotham Asset Management LLC acquired a new stake in shares of AxoGen in the 4th quarter valued at about $249,000. Finally, OxFORD Asset Management LLP acquired a new stake in shares of AxoGen in the 3rd quarter valued at about $270,000. Institutional investors and hedge funds own 68.01% of the company’s stock.

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AxoGen Company Profile

AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The company’s surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.

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