AxoGen, Inc. (NASDAQ:AXGN) reached 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 traded. The stock had previously closed at $35.15.
Several equities research analysts have recently weighed in on AXGN shares. Lake Street Capital upped their target price on shares of AxoGen from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, November 21st. Wedbush reaffirmed a “buy” rating and issued a $27.00 target price (up previously from $22.00) on shares of AxoGen in a report on Tuesday, November 21st. Jefferies Group started coverage on shares of AxoGen in a report on Thursday, November 30th. They issued a “buy” rating and a $35.00 target price on the stock. BidaskClub lowered shares of AxoGen from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 11th. Finally, Cantor Fitzgerald set a $37.00 target price on shares of AxoGen and gave the stock a “buy” rating in a report on Monday, January 8th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $31.71.
The company has a quick ratio of 3.53, a current ratio of 4.07 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $1,188.42, a price-to-earnings ratio of -117.16 and a beta of 0.10.
AxoGen (NASDAQ:AXGN) last issued its quarterly earnings data on Wednesday, February 28th. The medical equipment provider reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. AxoGen had a negative net margin of 17.29% and a negative return on equity of 70.63%. The firm had revenue of $16.97 million for the quarter, compared to analyst estimates of $16.38 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. The company’s revenue was up 48.7% on a year-over-year basis. research analysts forecast that AxoGen, Inc. will post -0.28 EPS for the current year.
In related news, Director Jamie Mark Grooms sold 63,395 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $27.67, for a total value of $1,754,139.65. Following the completion of the transaction, the director now directly owns 5,827 shares of the company’s stock, valued at $161,233.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 169,407 shares of company stock valued at $4,593,013 over the last three months. 9.33% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in AxoGen by 29.7% in the fourth quarter. BlackRock Inc. now owns 1,785,891 shares of the medical equipment provider’s stock valued at $50,540,000 after buying an additional 408,596 shares during the period. Vanguard Group Inc. raised its holdings in shares of AxoGen by 9.0% in the second quarter. Vanguard Group Inc. now owns 1,223,069 shares of the medical equipment provider’s stock worth $20,486,000 after buying an additional 101,245 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of AxoGen by 34.6% in the fourth quarter. Bank of New York Mellon Corp now owns 849,993 shares of the medical equipment provider’s stock worth $24,054,000 after buying an additional 218,430 shares during the period. Next Century Growth Investors LLC raised its holdings in shares of AxoGen by 1.7% in the fourth quarter. Next Century Growth Investors LLC now owns 667,642 shares of the medical equipment provider’s stock worth $18,894,000 after buying an additional 10,876 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of AxoGen by 63.5% in the fourth quarter. Renaissance Technologies LLC now owns 657,800 shares of the medical equipment provider’s stock worth $18,616,000 after buying an additional 255,400 shares during the period. 68.01% of the stock is owned by institutional investors and hedge funds.
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AxoGen Company Profile
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys 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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