AxoGen (NASDAQ:AXGN) Reaches New 12-Month High - Should You Buy?

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report)'s stock price reached a new 52-week high on Friday . The stock traded as high as $18.96 and last traded at $18.43, with a volume of 463731 shares traded. The stock had previously closed at $18.73.

Analyst Ratings Changes

Separately, StockNews.com raised shares of 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, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $15.00.

AxoGen Stock Performance

The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.47 and a current ratio of 3.74. The firm's 50-day moving average price is $14.97 and its two-hundred day moving average price is $12.96. The stock has a market cap of $795.52 million, a price-to-earnings ratio of -56.65 and a beta of 1.01.

Institutional Trading of AxoGen

Several hedge funds have recently made changes to their positions in AXGN. Bank of New York Mellon Corp raised its position in shares of AxoGen by 9.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 160,892 shares of the medical equipment provider's stock valued at $1,165,000 after buying an additional 13,798 shares during the period. Rhumbline Advisers raised its position in AxoGen by 6.2% in the second quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider's stock valued at $421,000 after purchasing an additional 3,380 shares during the period. Acadian Asset Management LLC acquired a new position in shares of AxoGen in the 2nd quarter valued at $125,000. Divisadero Street Capital Management LP grew its holdings 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 worth $4,974,000 after purchasing an additional 587,024 shares during the period. Finally, First Light Asset Management LLC increased its position in shares of AxoGen by 336.6% during the 2nd quarter. First Light Asset Management LLC now owns 3,344,033 shares of the medical equipment provider's stock worth $24,211,000 after purchasing an additional 2,578,147 shares during the last quarter. 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.