AxoGen (NASDAQ:AXGN) Sets New 52-Week High – Still a Buy?

AxoGen, Inc. (NASDAQ:AXGN) hit a new 52-week high during trading on Friday . The stock traded as high as $18.96 and last traded at $18.43, with a volume of 463731 shares changing hands. The stock had previously closed at $18.73.

Analysts Set New Price Targets

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

AxoGen Trading Down 1.6 %

The firm has a market capitalization of $811.07 million, a price-to-earnings ratio of -57.59 and a beta of 1.01. The business has a 50-day moving average of $14.97 and a two-hundred day moving average of $12.96. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67.

Institutional Investors Weigh In On AxoGen

A number of institutional investors have recently added to or reduced their stakes in the stock. First Light Asset Management LLC boosted its holdings in AxoGen by 336.6% during the second quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider’s stock valued at $24,211,000 after purchasing an additional 2,578,147 shares in the last quarter. Geode Capital Management LLC boosted its holdings in AxoGen by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock valued at $14,170,000 after purchasing an additional 31,612 shares in the last quarter. State Street Corp boosted its holdings in AxoGen by 11.9% during the third quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock valued at $12,571,000 after purchasing an additional 95,051 shares in the last quarter. Divisadero Street Capital Management LP boosted its holdings in AxoGen by 587.2% during 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 purchasing an additional 587,024 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in AxoGen by 2,912.3% during the third quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock valued at $7,697,000 after purchasing an additional 530,775 shares in the last quarter. 80.29% of the stock is owned by institutional investors and hedge funds.

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.