AxoGen (NASDAQ:AXGN) Sets New 1-Year High – Here’s What Happened

AxoGen, Inc. (NASDAQ:AXGN) reached a new 52-week high during trading on Wednesday . The stock traded as high as $25.09 and last traded at $24.9250, with a volume of 165129 shares traded. The stock had previously closed at $24.01.

Analyst Upgrades and Downgrades

AXGN has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of AxoGen from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Jefferies Financial Group reaffirmed a “buy” rating on shares of AxoGen in a research note on Wednesday, October 29th. JMP Securities set a $34.00 price objective on AxoGen in a research note on Thursday, October 30th. Raymond James Financial increased their price objective on shares of AxoGen from $20.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, HC Wainwright lifted their price objective on shares of AxoGen from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.86.

AxoGen Trading Up 4.1%

The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -499.70 and a beta of 1.09. The company has a fifty day moving average price of $19.01 and a two-hundred day moving average price of $14.86. The company has a current ratio of 4.14, a quick ratio of 2.67 and a debt-to-equity ratio of 0.59.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.03. The company had revenue of $60.08 million during the quarter, compared to analyst estimates of $56.90 million. AxoGen had a negative return on equity of 1.96% and a negative net margin of 0.98%. AxoGen has set its FY 2025 guidance at EPS. As a group, research analysts forecast that AxoGen, Inc. will post -0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director William P. Mr. Burke sold 3,591 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $24.02, for a total value of $86,255.82. Following the completion of the transaction, the director directly owned 100 shares of the company’s stock, valued at $2,402. This represents a 97.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 133,600 shares of company stock valued at $2,839,945 in the last 90 days. 2.78% of the stock is owned by company insiders.

Institutional Investors Weigh In On AxoGen

Several institutional investors have recently modified their holdings of AXGN. First Light Asset Management LLC grew its position in AxoGen by 28.2% in the third quarter. First Light Asset Management LLC now owns 5,805,730 shares of the medical equipment provider’s stock valued at $103,574,000 after acquiring an additional 1,276,487 shares in the last quarter. Balyasny Asset Management L.P. grew its position in shares of AxoGen by 183.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,931,158 shares of the medical equipment provider’s stock valued at $20,953,000 after buying an additional 1,250,968 shares during the last quarter. Bessemer Group Inc. acquired a new stake in AxoGen in the third quarter worth $14,468,000. Wasatch Advisors LP increased its position in AxoGen by 85.1% in the 2nd quarter. Wasatch Advisors LP now owns 1,433,782 shares of the medical equipment provider’s stock valued at $15,557,000 after acquiring an additional 659,149 shares during the period. Finally, Brown Capital Management LLC bought a new position in shares of AxoGen in the third quarter valued at approximately $11,500,000. 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.