AxoGen (AXGN) Reaches New 1-Year High at $30.45

AxoGen, Inc. (NASDAQ:AXGN)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $30.45 and last traded at $28.65, with a volume of 398000 shares changing hands. The stock had previously closed at $28.15.

Several equities analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of AxoGen in a report on Friday. Jefferies Group assumed coverage on shares of AxoGen in a research note on Thursday, November 30th. They issued a “buy” rating and a $35.00 price objective for the company. Leerink Swann lifted their price objective on shares of AxoGen from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, November 21st. Lake Street Capital lifted their price objective on shares of AxoGen from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, November 21st. Finally, Wedbush reaffirmed a “buy” rating and issued a $27.00 price objective (up previously from $22.00) on shares of AxoGen in a research note on Tuesday, November 21st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $26.17.

The company has a debt-to-equity ratio of 1.93, a quick ratio of 2.95 and a current ratio of 3.55. The firm has a market cap of $976.79, a P/E ratio of -77.63 and a beta of 0.40.

AxoGen (NASDAQ:AXGN) last released its quarterly earnings data on Wednesday, November 1st. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). AxoGen had a negative net margin of 24.74% and a negative return on equity of 91.00%. The business had revenue of $16.05 million during the quarter, compared to analyst estimates of $15.55 million. The business’s revenue was up 43.2% on a year-over-year basis. equities research analysts anticipate that AxoGen, Inc. will post -0.31 EPS for the current year.

In other AxoGen news, Director Guido J. Neels sold 1,150,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $19.74, for a total transaction of $22,701,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jamie Mark Grooms sold 21,290 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $26.22, for a total transaction of $558,223.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,293,990 shares of company stock valued at $26,494,898. 9.33% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in AXGN. Schwab Charles Investment Management Inc. lifted its position in AxoGen by 33.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 51,300 shares of the medical equipment provider’s stock worth $860,000 after acquiring an additional 13,000 shares during the last quarter. Rhumbline Advisers lifted its position in AxoGen by 11.4% during the 2nd quarter. Rhumbline Advisers now owns 28,720 shares of the medical equipment provider’s stock worth $481,000 after acquiring an additional 2,945 shares during the last quarter. Bank of New York Mellon Corp lifted its position in AxoGen by 80.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 160,354 shares of the medical equipment provider’s stock worth $2,685,000 after acquiring an additional 71,609 shares during the last quarter. Neuberger Berman Group LLC acquired a new position in AxoGen during the 2nd quarter worth $201,000. Finally, Wells Fargo & Company MN lifted its position in AxoGen by 17.2% during the 2nd quarter. Wells Fargo & Company MN now owns 46,745 shares of the medical equipment provider’s stock worth $783,000 after acquiring an additional 6,848 shares during the last quarter. 66.00% of the stock is owned by hedge funds and other institutional investors.

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About AxoGen

AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The company’s surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.

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