AxoGen (NASDAQ:AXGN) Hits New 52-Week High - Here's Why

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $19.18 and last traded at $18.47, with a volume of 22740 shares changing hands. The stock had previously closed at $18.88.

Analysts Set New Price Targets

Several research analysts recently commented on the company. StockNews.com upgraded AxoGen from a "hold" rating to a "buy" rating in a research report on Tuesday, October 15th. Canaccord Genuity Group lifted their target price on AxoGen from $18.00 to $22.00 and gave the stock a "buy" rating in a report on Monday, February 3rd.

AxoGen Stock Performance

The stock has a market capitalization of $779.82 million, a PE ratio of -55.38 and a beta of 1.00. The business's 50 day moving average is $16.60 and its 200 day moving average is $14.14. The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AXGN. JPMorgan Chase & Co. grew its stake in AxoGen by 2,912.3% in the third quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider's stock worth $7,697,000 after purchasing an additional 530,775 shares in the last quarter. Parkman Healthcare Partners LLC bought a new position in shares of AxoGen during the third quarter valued at approximately $5,789,000. Raymond James Financial Inc. purchased a new position in AxoGen during the fourth quarter valued at approximately $4,552,000. FMR LLC raised its position in shares of AxoGen by 743.1% in the 3rd quarter. FMR LLC now owns 178,957 shares of the medical equipment provider's stock worth $2,509,000 after acquiring an additional 157,730 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new stake in AxoGen during the third quarter valued at about $1,728,000. 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.