AxoGen (NASDAQ:AXGN) Sets New 12-Month High – What’s Next?

AxoGen, Inc. (NASDAQ:AXGN) hit a new 52-week high during trading on Wednesday . The company traded as high as $15.17 and last traded at $15.17, with a volume of 191467 shares trading hands. The stock had previously closed at $14.35.

Wall Street Analysts Forecast Growth

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

AxoGen Price Performance

The business’s 50-day moving average price is $13.26 and its 200 day moving average price is $9.40. The company has a quick ratio of 2.32, a current ratio of 3.51 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $575.16 million, a P/E ratio of -26.48 and a beta of 1.13.

AxoGen (NASDAQ:AXGN) last announced its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.10. The firm had revenue of $47.91 million during the quarter, compared to the consensus estimate of $43.27 million. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. Analysts anticipate that AxoGen, Inc. will post -0.33 EPS for the current fiscal year.

Institutional Trading of AxoGen

A number of large investors have recently modified their holdings of AXGN. First Light Asset Management LLC increased its position in shares of AxoGen by 336.6% in the second quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider’s stock worth $24,211,000 after purchasing an additional 2,578,147 shares during the last quarter. Assenagon Asset Management S.A. grew its position in AxoGen by 2,014.6% in 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 acquiring an additional 1,248,823 shares in the last quarter. Divisadero Street Capital Management LP boosted its holdings in shares of AxoGen by 587.2% in the 2nd quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock worth $4,974,000 after purchasing an additional 587,024 shares in the last quarter. Kent Lake Capital LLC purchased a new position in shares of AxoGen during the 1st quarter valued at about $1,617,000. Finally, Roubaix Capital LLC bought a new stake in AxoGen in the 1st quarter worth approximately $351,000. Institutional investors own 80.29% of the company’s stock.

AxoGen Company Profile

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.