AxoGen (NASDAQ:AXGN) Hits New 1-Year High - Here's Why

Key Points

• AxoGen shares hit a new 52-week high, trading intraday as high as $43.47 and last at about $44.58, up roughly 8.6% with a market cap near $2.22 billion.
• Analyst sentiment is broadly positive—nine Buy ratings vs. one Sell—with an average "Moderate Buy" consensus and an average price target of $41.63 (individual targets up to $45).
• The company missed quarterly EPS by $0.01 (reported $0.07 vs. $0.08 expected) while revenue met estimates, and it shows negative profitability (negative net margin and P/E), but solid liquidity (current ratio 5.11, quick ratio 3.31).

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $43.47 and last traded at $44.5750, with a volume of 85739 shares. The stock had previously closed at $39.39.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of AxoGen in a research report on Monday, December 29th. Citizens Jmp boosted their target price on shares of AxoGen from $34.00 to $42.00 and gave the stock a "market outperform" rating in a report on Tuesday, February 24th. Wall Street Zen lowered shares of AxoGen from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 28th. Canaccord Genuity Group set a $45.00 target price on shares of AxoGen in a report on Friday. Finally, Citigroup reaffirmed an "outperform" rating on shares of AxoGen in a report on Tuesday, February 24th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $41.63.

AxoGen Trading Up 8.6%

The company has a current ratio of 5.11, a quick ratio of 3.31 and a debt-to-equity ratio of 0.51. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -123.99 and a beta of 0.98. The company has a fifty day simple moving average of $33.21 and a 200-day simple moving average of $30.02.

AxoGen (NASDAQ:AXGN - Get Free Report) last announced its earnings results on Tuesday, February 24th. The medical equipment provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). The firm had revenue of $59.90 million during the quarter, compared to analyst estimates of $59.90 million. AxoGen had a negative return on equity of 13.44% and a negative net margin of 6.97%. On average, research analysts forecast that AxoGen, Inc. will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AxoGen news, insider Erick Wayne Devinney sold 5,221 shares of the business's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $32.84, for a total transaction of $171,457.64. Following the sale, the insider directly owned 262,781 shares of the company's stock, valued at $8,629,728.04. The trade was a 1.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.78% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AXGN. Royal Bank of Canada lifted its stake in AxoGen by 14.2% in the 1st quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider's stock worth $704,000 after acquiring an additional 4,723 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of AxoGen by 45.3% in the 1st quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider's stock valued at $442,000 after purchasing an additional 7,453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of AxoGen by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider's stock worth $466,000 after purchasing an additional 1,057 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of AxoGen by 104,810.0% in the first quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider's stock worth $194,000 after purchasing an additional 10,481 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of AxoGen by 37.3% during the second quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider's stock worth $4,113,000 after purchasing an additional 103,072 shares during the period. Hedge funds and other institutional investors own 80.29% of the company's stock.

AxoGen Company Profile

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen's offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company's core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.

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