AxoGen (NASDAQ:AXGN) Sees Large Volume Increase - Time to Buy?

AxoGen, Inc. (NASDAQ:AXGN - Get Free Report) shares saw strong trading volume on Friday . 338,875 shares traded hands during mid-day trading, a decline of 15% from the previous session's volume of 398,620 shares.The stock last traded at $14.39 and had previously closed at $13.60.

Wall Street Analysts Forecast Growth

AXGN has been the topic of several recent analyst reports. Raymond James assumed coverage on AxoGen in a report on Monday, July 1st. They set an "outperform" rating and a $13.00 target price on the stock. StockNews.com upgraded AxoGen from a "hold" rating to a "buy" rating in a report on Friday, October 4th. JMP Securities lifted their target price on AxoGen from $17.00 to $20.00 and gave the stock a "market outperform" rating in a report on Friday, August 9th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $15.00 price target on shares of AxoGen in a report on Thursday, June 20th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $13.80.

AxoGen Stock Up 8.2 %

The company has a market capitalization of $644.74 million, a price-to-earnings ratio of -38.71 and a beta of 1.13. The company has a quick ratio of 2.32, a current ratio of 3.51 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average price of $12.82 and a 200-day moving average price of $9.23.

AxoGen (NASDAQ:AXGN - Get Free Report) last announced its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) EPS for the quarter, topping 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 company had revenue of $47.91 million during the quarter, compared to analysts' expectations of $43.27 million. As a group, equities analysts anticipate that AxoGen, Inc. will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AxoGen

Several hedge funds have recently bought and sold shares of the business. First Light Asset Management LLC grew its stake in 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 valued at $24,211,000 after acquiring an additional 2,578,147 shares in the last quarter. Assenagon Asset Management S.A. increased 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 valued at $9,490,000 after buying an additional 1,248,823 shares during the period. Silvercrest Asset Management Group LLC increased its stake in AxoGen by 4.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 790,647 shares of the medical equipment provider's stock valued at $6,381,000 after buying an additional 34,399 shares during the period. Divisadero Street Capital Management LP lifted its position in AxoGen by 587.2% in 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 buying an additional 587,024 shares in the last quarter. Finally, Kent Lake Capital LLC acquired a new stake in shares of AxoGen during the 1st quarter valued at $1,617,000. 80.29% of the stock is owned by hedge funds and other institutional investors.

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.