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 Wednesday . The company traded as high as $45.98 and last traded at $44.69, with a volume of 1099183 shares trading hands. The stock had previously closed at $44.95.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $48.00 target price on shares of AxoGen in a report on Wednesday, April 29th. Zacks Research raised AxoGen from a “strong sell” rating to a “hold” rating in a research report on Friday, May 29th. Wells Fargo & Company boosted their price target on AxoGen from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. HC Wainwright raised their price objective on AxoGen from $39.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Lake Street Capital raised their price objective on AxoGen from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, AxoGen currently has a consensus rating of “Moderate Buy” and an average target price of $46.50.

AxoGen Stock Down 0.6%

The firm has a market cap of $2.38 billion, a P/E ratio of -69.83 and a beta of 1.12. 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’s fifty day moving average is $40.92 and its 200 day moving average is $35.39.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Tuesday, April 28th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.05). AxoGen had a negative net margin of 13.21% and a negative return on equity of 9.63%. The company had revenue of $61.46 million during the quarter, compared to the consensus estimate of $57.85 million. As a group, equities research analysts anticipate that AxoGen, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Transactions at AxoGen

In related news, Director Kathy Johnson Weiler sold 16,344 shares of the business’s 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 completion of the sale, the director directly owned 16,344 shares in the company, valued at $720,606.96. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Johnson sold 11,050 shares of the company’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 directly owned 11,050 shares in the company, valued at approximately $478,023. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 29,041 shares of company stock worth $1,268,792. Company insiders own 2.44% of the company’s stock.

Institutional Investors Weigh In On AxoGen

A number of hedge funds and other institutional investors have recently modified their holdings of AXGN. MCF Advisors LLC bought a new position in AxoGen during the fourth quarter worth about $30,000. Arax Advisory Partners grew its position in shares of AxoGen by 362.4% during the 4th quarter. Arax Advisory Partners now owns 1,045 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 819 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of AxoGen during the 4th quarter worth approximately $36,000. Kestra Advisory Services LLC bought a new position in shares of AxoGen during the fourth quarter worth approximately $39,000. Finally, KBC Group NV bought a new position in shares of AxoGen during the first quarter worth approximately $41,000. Institutional investors and hedge funds 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.