AxoGen (NASDAQ:AXGN) Sets New 12-Month High at $13.20

AxoGen, Inc. (NASDAQ:AXGN)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $13.20 and last traded at $13.17, with a volume of 42095 shares changing hands. The stock had previously closed at $12.65.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $15.00 price target on shares of AxoGen in a research report on Thursday, June 20th. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Raymond James assumed coverage on shares of AxoGen in a research report on Monday, July 1st. They issued an “outperform” rating and a $13.00 price target for the company. Finally, JMP Securities upped their price target on shares of AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, August 9th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, AxoGen has an average rating of “Buy” and a consensus price target of $13.80.

AxoGen Stock Performance

The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.23 and a current ratio of 3.43. The stock has a market cap of $562.92 million, a P/E ratio of -26.38 and a beta of 1.11. The firm’s 50 day moving average is $9.28 and its 200 day moving average is $8.23.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. The firm had revenue of $47.91 million for the quarter, compared to the consensus estimate of $43.27 million. AxoGen had a negative net margin of 12.99% and a negative return on equity of 22.18%. Analysts anticipate that AxoGen, Inc. will post -0.5 EPS for the current year.

Hedge Funds Weigh In On AxoGen

Institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its stake in AxoGen by 2,014.6% during the second quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider’s stock worth $9,490,000 after purchasing an additional 1,248,823 shares during the period. M&T Bank Corp grew its holdings in AxoGen by 18.2% during the 4th quarter. M&T Bank Corp now owns 56,780 shares of the medical equipment provider’s stock worth $388,000 after acquiring an additional 8,744 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in AxoGen by 69.8% during the 4th quarter. Panagora Asset Management Inc. now owns 165,461 shares of the medical equipment provider’s stock worth $1,130,000 after acquiring an additional 68,001 shares in the last quarter. Lazard Asset Management LLC grew its holdings in AxoGen by 30.1% during the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock worth $93,000 after acquiring an additional 2,671 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in AxoGen by 8.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock valued at $240,000 after purchasing an additional 2,204 shares during the last quarter. 80.29% of the stock is owned by hedge funds and other institutional investors.

About AxoGen

AxoGen, Inc, together with its subsidiaries, develops and commercializes technologies for peripheral nerve regeneration and repair worldwide. The company's products include Avance Nerve Graft, a biologically active off-the-shelf processed human nerve allograft for bridging severed peripheral 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 peripheral nerves; AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect damaged peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments; and Axoguard HA+ Nerve Protector, a processed porcine submucosa ECM base layer with a hyaluronate-alginate gel coating designed to provide short- and long-term protection for peripheral nerve injuries.