AxoGen (NASDAQ:AXGN) Sets New 12-Month High at $15.08

AxoGen, Inc. (NASDAQ:AXGN)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $15.08 and last traded at $14.94, with a volume of 188919 shares traded. The stock had previously closed at $14.69.

Wall Street Analysts Forecast Growth

AXGN has been the topic of a number of recent analyst reports. JMP Securities increased their price target on shares of AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a report on Friday, August 9th. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a report on Tuesday. Canaccord Genuity Group reissued a “buy” rating and set a $15.00 target price on shares of AxoGen in a research note on Thursday, June 20th. Finally, Raymond James initiated coverage on AxoGen in a research report on Monday, July 1st. They issued an “outperform” rating and a $13.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, AxoGen currently has a consensus rating of “Buy” and an average target price of $13.80.

AxoGen Stock Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.32 and a current ratio of 3.51. The firm’s 50 day moving average is $10.96 and its 200-day moving average is $8.51. The company has a market cap of $642.90 million, a PE ratio of -29.38 and a beta of 1.12.

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

Institutional Investors Weigh In On AxoGen

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Light Asset Management LLC grew its holdings in shares of AxoGen by 336.6% during the 2nd 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 period. Assenagon Asset Management S.A. increased 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. Silvercrest Asset Management Group LLC increased its stake in AxoGen by 4.5% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 790,647 shares of the medical equipment provider’s stock worth $6,381,000 after buying an additional 34,399 shares during the period. Divisadero Street Capital Management LP raised its stake in shares of AxoGen by 587.2% in the second quarter. Divisadero Street Capital Management LP now owns 686,994 shares of the medical equipment provider’s stock valued at $4,974,000 after acquiring an additional 587,024 shares in the last quarter. Finally, Kent Lake Capital LLC purchased a new position in shares of AxoGen in the 1st quarter valued at about $1,617,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.

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.