AxoGen (NASDAQ:AXGN) Hits New 1-Year High at $15.08

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

Analysts Set New Price Targets

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

AxoGen Trading Down 0.9 %

The stock has a market capitalization of $635.47 million, a P/E ratio of -29.34 and a beta of 1.12. The stock’s fifty day moving average price is $11.22 and its two-hundred day moving average price is $8.60. The company has a current ratio of 3.51, a quick ratio of 2.32 and a debt-to-equity ratio of 0.70.

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

Institutional Trading of AxoGen

Institutional investors have recently made changes to their positions in the stock. Panagora Asset Management Inc. raised 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 valued at $1,130,000 after buying an additional 68,001 shares during the last quarter. Keeley Teton Advisors LLC boosted its holdings in shares of AxoGen by 135.3% during the fourth quarter. Keeley Teton Advisors LLC now owns 84,725 shares of the medical equipment provider’s stock worth $579,000 after purchasing an additional 48,725 shares during the period. BNP Paribas Financial Markets grew its stake in shares of AxoGen by 8.6% in the first quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock worth $168,000 after purchasing an additional 1,651 shares during the last quarter. Roubaix Capital LLC purchased a new position in AxoGen during the 1st quarter valued at about $351,000. Finally, Lazard Asset Management LLC increased 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 valued at $93,000 after purchasing an additional 2,671 shares during the period. 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.