AxoGen (NASDAQ:AXGN) Reaches New 52-Week High - Time to Buy?

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $15.17 and last traded at $15.17, with a volume of 191467 shares. The stock had previously closed at $14.35.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Raymond James started coverage on AxoGen in a research note on Monday, July 1st. They issued an "outperform" rating and a $13.00 target price for the company. Canaccord Genuity Group restated a "buy" rating and issued a $15.00 price objective on shares of AxoGen in a research report on Thursday, June 20th. StockNews.com upgraded shares of AxoGen from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, JMP Securities raised their price target on shares of AxoGen from $17.00 to $20.00 and gave the company a "market outperform" rating in a report on Friday, August 9th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $13.80.

AxoGen Trading Up 0.8 %

The business's 50-day simple moving average is $13.21 and its 200-day simple moving average is $9.37. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.32 and a current ratio of 3.51. The company has a market capitalization of $631.97 million, a price-to-earnings ratio of -28.92 and a beta of 1.13.

AxoGen (NASDAQ:AXGN - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.10. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. The business had revenue of $47.91 million for the quarter, compared to analyst estimates of $43.27 million. On average, research analysts expect that AxoGen, Inc. will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AxoGen

Several hedge funds have recently added to or reduced their stakes in AXGN. BNP Paribas Financial Markets boosted its position in shares of AxoGen by 8.6% during the first quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider's stock worth $168,000 after purchasing an additional 1,651 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in AxoGen by 8.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider's stock worth $240,000 after acquiring an additional 2,204 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in AxoGen by 30.1% during the first quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider's stock worth $93,000 after acquiring an additional 2,671 shares in the last quarter. Rhumbline Advisers grew its stake 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 acquiring an additional 3,380 shares during the period. Finally, nVerses Capital LLC bought a new stake in shares of AxoGen in the third quarter worth about $56,000. Institutional investors and hedge funds own 80.29% of the company's stock.

About AxoGen

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.