AxoGen (NASDAQ:AXGN) Sets New 52-Week High – What’s Next?

Shares of AxoGen, Inc. (NASDAQ:AXGN) hit a new 52-week high during trading on Wednesday . The stock traded as high as $45.98 and last traded at $44.69, with a volume of 1099183 shares. The stock had previously closed at $44.95.

Analyst Ratings Changes

A number of analysts have recently weighed in on AXGN shares. Zacks Research upgraded AxoGen from a “strong sell” rating to a “hold” rating in a research note on Friday, May 29th. Lake Street Capital increased their price objective on shares of AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. HC Wainwright raised their price objective on shares of AxoGen from $39.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Wall Street Zen downgraded shares of AxoGen from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Citizens Jmp boosted their target price on shares of AxoGen from $42.00 to $50.00 and gave the stock a “market outperform” rating in a research note on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $46.50.

AxoGen Stock Performance

The stock has a 50 day moving average price of $41.30 and a two-hundred day moving average price of $35.53. The company has a current ratio of 7.10, a quick ratio of 5.33 and a debt-to-equity ratio of 0.08. The company has a market cap of $2.37 billion, a price-to-earnings ratio of -69.52 and a beta of 1.12.

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

Insider Activity at AxoGen

In other news, Director John Johnson sold 11,050 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $478,023. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 sale, the director owned 93,826 shares of the company’s stock, valued at approximately $3,996,987.60. This represents a 1.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 29,041 shares of company stock worth $1,268,792. 2.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC lifted its position in AxoGen by 142.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 431,843 shares of the medical equipment provider’s stock valued at $7,704,000 after acquiring an additional 253,888 shares in the last quarter. Stephens Investment Management Group LLC bought a new position in AxoGen during the 4th quarter worth about $5,043,000. Royce & Associates LP acquired a new stake in shares of AxoGen in the 3rd quarter valued at about $3,587,000. Fox Run Management L.L.C. acquired a new stake in shares of AxoGen in the 3rd quarter valued at about $297,000. Finally, SG Americas Securities LLC lifted its holdings in shares of AxoGen by 459.9% in the fourth quarter. SG Americas Securities LLC now owns 65,480 shares of the medical equipment provider’s stock valued at $2,143,000 after purchasing an additional 53,786 shares in the last quarter. 80.29% of the stock is owned by institutional investors and hedge funds.

About AxoGen

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.