AxoGen (NASDAQ:AXGN) Reaches New 1-Year High – Here’s Why

AxoGen, Inc. (NASDAQ:AXGN)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $46.26 and last traded at $46.19, with a volume of 1201349 shares changing hands. The stock had previously closed at $44.72.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of AxoGen in a research report on Friday, May 29th. Canaccord Genuity Group upped their price target on AxoGen from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Wells Fargo & Company increased their price target on AxoGen from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Zacks Research raised AxoGen from a “strong sell” rating to a “hold” rating in a report on Friday, May 29th. Finally, Citizens Jmp boosted their price objective on AxoGen from $42.00 to $50.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, AxoGen currently has a consensus rating of “Moderate Buy” and an average price target of $46.50.

AxoGen Price Performance

The business’s 50 day moving average is $41.94 and its two-hundred day moving average is $35.95. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.33 and a current ratio of 7.10. The firm has a market capitalization of $2.45 billion, a PE ratio of -71.75 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 analysts’ expectations of $57.85 million. AxoGen had a negative return on equity of 9.63% and a negative net margin of 13.21%. Equities research analysts anticipate that AxoGen, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kathy Johnson Weiler sold 16,344 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $44.09, for a total value of $720,606.96. Following the sale, the director owned 16,344 shares in the company, valued at approximately $720,606.96. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Johnson sold 11,050 shares of the business’s 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 owned 11,050 shares of the company’s stock, valued at approximately $478,023. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 29,041 shares of company stock valued at $1,268,792. Company insiders own 2.44% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AXGN. Royal Bank of Canada raised its stake in AxoGen by 14.2% in the first quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock valued at $704,000 after purchasing an additional 4,723 shares in the last quarter. AQR Capital Management LLC raised its position in shares of AxoGen by 45.3% during the 1st quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock valued at $442,000 after buying an additional 7,453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of AxoGen by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock worth $466,000 after acquiring an additional 1,057 shares during the last quarter. Jones Financial Companies Lllp grew its position in AxoGen by 104,810.0% in the first quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock worth $194,000 after acquiring an additional 10,481 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in AxoGen by 37.3% in the second quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider’s stock valued at $4,113,000 after acquiring an additional 103,072 shares during the last quarter. Hedge funds and other institutional investors own 80.29% of the company’s stock.

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.