AxoGen (NASDAQ:AXGN) Hits New 1-Year High – Still a Buy?

AxoGen, Inc. (NASDAQ:AXGN)’s stock price reached a new 52-week high during mid-day trading 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.

Analysts Set New Price Targets

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

AxoGen Trading Up 18.2 %

The stock has a market capitalization of $794.34 million, a price-to-earnings ratio of -56.41 and a beta of 1.01. The business has a 50-day moving average of $14.57 and a 200-day moving average of $12.57. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74.

Institutional Trading of AxoGen

Several institutional investors and hedge funds have recently bought and sold shares of the business. First Light Asset Management LLC raised its holdings in shares of AxoGen by 336.6% in 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 buying an additional 2,578,147 shares during the last quarter. Geode Capital Management LLC raised its stake in AxoGen by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock valued at $14,170,000 after acquiring an additional 31,612 shares during the last quarter. State Street Corp lifted its position in AxoGen by 11.9% during the 3rd quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock worth $12,571,000 after acquiring an additional 95,051 shares during the period. Divisadero Street Capital Management LP grew its stake in shares of AxoGen by 587.2% in the 2nd 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 during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of AxoGen by 2,912.3% in 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 during the period. Hedge funds and other institutional investors 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.