AxoGen (NASDAQ:AXGN) Hits New 12-Month High - Here's Why

Shares of AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $15.24 and last traded at $15.19, with a volume of 223050 shares trading hands. The stock had previously closed at $14.20.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AXGN. StockNews.com upgraded AxoGen from a "hold" rating to a "buy" rating in a research report on Tuesday, October 15th. JMP Securities boosted their target price on AxoGen from $17.00 to $20.00 and gave the stock a "market outperform" rating in a research note on Friday, August 9th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, AxoGen currently has an average rating of "Buy" and a consensus price target of $15.00.

AxoGen Stock Up 5.4 %

The stock has a market capitalization of $655.70 million, a price-to-earnings ratio of -39.95 and a beta of 1.13. The business has a fifty day moving average of $13.71 and a 200 day moving average of $9.95. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.51 and a quick ratio of 2.32.

AxoGen (NASDAQ:AXGN - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.10. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. The company had revenue of $47.91 million for the quarter, compared to analysts' expectations of $43.27 million. As a group, equities analysts predict that AxoGen, Inc. will post -0.33 earnings per share for the current year.

Institutional Investors Weigh In On AxoGen

Hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in AxoGen by 2,014.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,310,811 shares of the medical equipment provider's stock worth $9,490,000 after acquiring an additional 1,248,823 shares during the period. Divisadero Street Capital Management LP grew its stake in shares of AxoGen by 587.2% during 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 buying an additional 587,024 shares during the period. Rice Hall James & Associates LLC grew its stake in shares of AxoGen by 26.8% during the 2nd quarter. Rice Hall James & Associates LLC now owns 194,269 shares of the medical equipment provider's stock valued at $1,407,000 after buying an additional 41,095 shares during the period. Semanteon Capital Management LP purchased a new stake in shares of AxoGen during the 3rd quarter valued at $603,000. Finally, Lazard Asset Management LLC grew its stake in shares of AxoGen by 30.1% during the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider's stock valued at $93,000 after buying an additional 2,671 shares during the period. Institutional investors and hedge funds 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.

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