AxoGen (NASDAQ:AXGN) Reaches New 1-Year High – Should You Buy?

AxoGen, Inc. (NASDAQ:AXGN)’s stock price reached a new 52-week high on Monday . The company traded as high as $46.95 and last traded at $44.7710, with a volume of 117338 shares changing hands. The stock had previously closed at $45.89.

Analyst Ratings Changes

A number of brokerages recently issued reports on AXGN. Lake Street Capital raised their target price on shares of AxoGen from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Raymond James Financial reissued an “outperform” rating and set a $48.00 price target on shares of AxoGen in a research note on Wednesday, April 29th. Citizens Jmp raised their price objective on AxoGen from $42.00 to $50.00 and gave the stock a “market outperform” rating in a report on Wednesday, April 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AxoGen in a research report on Friday, May 29th. Finally, HC Wainwright upped their target price on AxoGen from $39.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

AxoGen Price Performance

The company’s 50-day moving average is $42.60 and its 200-day moving average is $36.38. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -69.64 and a beta of 1.09. 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 posted its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%.The company had revenue of $61.46 million for the quarter, compared to analysts’ expectations of $57.85 million. On average, research analysts expect that AxoGen, Inc. will post -0.37 earnings per share for the current year.

Insider Activity at AxoGen

In other news, Director John Johnson sold 11,050 shares of AxoGen stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $43.26, for a total value of $478,023.00. Following the transaction, the director directly owned 11,050 shares of the company’s stock, valued at $478,023. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kathy Johnson Weiler sold 16,344 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $44.09, for a total transaction of $720,606.96. Following the sale, the director directly owned 16,344 shares of the company’s stock, valued at approximately $720,606.96. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 29,041 shares of company stock worth $1,268,792. 2.44% of the stock is owned by insiders.

Institutional Investors Weigh In On AxoGen

Several institutional investors have recently bought and sold shares of AXGN. California State Teachers Retirement System lifted its holdings in shares of AxoGen by 51.9% during the 1st quarter. California State Teachers Retirement System now owns 59,129 shares of the medical equipment provider’s stock valued at $1,959,000 after acquiring an additional 20,203 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in AxoGen by 66.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 22,166 shares of the medical equipment provider’s stock valued at $734,000 after purchasing an additional 8,844 shares in the last quarter. SummitTX Capital L.P. purchased a new position in AxoGen in the first quarter valued at about $7,769,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in AxoGen in the first quarter valued at about $3,847,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of AxoGen during the first quarter worth about $1,720,000. 80.29% of the stock is currently owned by hedge funds and other institutional investors.

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.