AxoGen (NASDAQ:AXGN) Hits New 12-Month High – Time to Buy?

Shares of AxoGen, Inc. (NASDAQ:AXGN) 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. The stock had previously closed at $15.27.

Analyst Upgrades and Downgrades

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

AxoGen Stock Performance

The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The firm has a market cap of $794.34 million, a price-to-earnings ratio of -56.41 and a beta of 1.01. The stock has a fifty day moving average price of $14.65 and a 200 day moving average price of $12.72.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quest Partners LLC grew its holdings in AxoGen by 23,066.7% in the 3rd quarter. Quest Partners LLC now owns 2,085 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 2,076 shares during the last quarter. nVerses Capital LLC acquired a new stake in AxoGen in the 3rd quarter valued at approximately $56,000. Acadian Asset Management LLC acquired a new stake in AxoGen in the 2nd quarter valued at approximately $125,000. Oppenheimer & Co. Inc. acquired a new stake in AxoGen in the 3rd quarter valued at approximately $156,000. Finally, Quantbot Technologies LP acquired a new stake in AxoGen in the 3rd quarter valued at approximately $165,000. Institutional investors and hedge funds 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.