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

AxoGen, Inc. (NASDAQ:AXGN)’s stock price hit a new 52-week high on Saturday . The stock traded as high as $18.40 and last traded at $18.05, with a volume of 1529046 shares trading hands. The stock had previously closed at $15.27.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $15.00.

AxoGen Trading Up 18.2 %

The company has a market cap of $794.34 million, a price-to-earnings ratio of -56.41 and a beta of 1.01. The business has a fifty day simple moving average of $14.57 and a 200 day simple moving average of $12.57. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67.

Institutional Trading of AxoGen

Institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC grew its holdings in shares of AxoGen by 23,066.7% in the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 2,076 shares during the period. nVerses Capital LLC acquired a new stake in AxoGen in the third quarter valued at $56,000. Oppenheimer & Co. Inc. purchased a new position in shares of AxoGen in the third quarter valued at $156,000. Quantbot Technologies LP purchased a new position in shares of AxoGen in the third quarter valued at $165,000. Finally, BNP Paribas Financial Markets boosted its position in shares of AxoGen by 238.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,284 shares of the medical equipment provider’s stock worth $172,000 after buying an additional 8,656 shares in the last quarter. Hedge funds and other 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.