AxoGen (NASDAQ:AXGN) Reaches New 52-Week High – Time to Buy?

AxoGen, Inc. (NASDAQ:AXGN) shares hit a new 52-week high during trading on Monday . The company traded as high as $47.12 and last traded at $47.1150, with a volume of 51815 shares. The stock had previously closed at $46.43.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AXGN. Canaccord Genuity Group raised their target price on AxoGen from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, July 30th. HC Wainwright raised their price objective on AxoGen from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Truist Financial set a $55.00 price objective on shares of AxoGen in a report on Thursday, July 30th. Wall Street Zen upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a report on Sunday, July 26th. Finally, Raymond James Financial reissued an “outperform” rating and set a $48.00 price target on shares of AxoGen in a research report on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.00.

AxoGen Stock Performance

The company has a 50-day simple moving average of $42.64 and a two-hundred day simple moving average of $37.92. The company has a quick ratio of 5.04, a current ratio of 6.60 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.55 billion, a PE ratio of -69.88 and a beta of 1.11.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $69.73 million during the quarter, compared to analyst estimates of $67.10 million. AxoGen had a negative return on equity of 8.90% and a negative net margin of 13.36%. As a group, equities research analysts forecast that AxoGen, Inc. will post -0.45 earnings per share for the current year.

Institutional Trading of AxoGen

Several hedge funds have recently added to or reduced their stakes in the stock. MCF Advisors LLC bought a new position in shares of AxoGen during the 4th quarter valued at approximately $30,000. Aquatic Capital Management LLC raised its holdings in shares of AxoGen by 287.8% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,710 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 1,269 shares during the period. Arax Advisory Partners lifted its stake in AxoGen by 362.4% in the fourth quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 819 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in AxoGen in the fourth quarter valued at approximately $36,000. Finally, Kestra Advisory Services LLC bought a new position in AxoGen during the fourth quarter valued at $39,000. Institutional investors own 80.29% of the company’s stock.

AxoGen Company Profile

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.