AxoGen, Inc. (AXGN) Hits New 12-Month High at $18.90
AxoGen, Inc. (NASDAQ:AXGN) hit a new 52-week high during trading on Monday . The company traded as high as $18.90 and last traded at $18.90, with a volume of 371,590 shares changing hands. The stock had previously closed at $18.50.
A number of equities research analysts recently commented on the company. Roth Capital reiterated a “buy” rating and issued a $21.00 target price (up previously from $18.00) on shares of AxoGen in a research report on Tuesday, September 12th. BidaskClub lowered AxoGen from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Cantor Fitzgerald reiterated a “buy” rating and issued a $18.00 target price on shares of AxoGen in a research report on Monday, August 21st. Leerink Swann assumed coverage on AxoGen in a research report on Monday, July 31st. They issued an “outperform” rating and a $22.00 target price on the stock. Finally, ValuEngine upgraded AxoGen from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $17.20.
The stock’s market cap is $619.93 million. The company’s 50 day moving average price is $16.58 and its 200 day moving average price is $14.19.
AxoGen (NASDAQ:AXGN) last released its quarterly earnings results on Wednesday, August 2nd. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $15.20 million for the quarter, compared to the consensus estimate of $14.40 million. AxoGen had a negative return on equity of 114.64% and a negative net margin of 27.50%. The firm’s quarterly revenue was up 46.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.09) EPS. Equities research analysts expect that AxoGen, Inc. will post ($0.31) EPS for the current year.
In related news, Director Robert James Rudelius sold 16,143 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $18.00, for a total transaction of $290,574.00. Following the transaction, the director now owns 43,273 shares in the company, valued at approximately $778,914. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.33% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC grew its stake in shares of AxoGen by 0.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 10,843 shares of the medical equipment provider’s stock valued at $113,000 after purchasing an additional 93 shares during the last quarter. Nationwide Fund Advisors grew its stake in shares of AxoGen by 5.5% in the 2nd quarter. Nationwide Fund Advisors now owns 14,874 shares of the medical equipment provider’s stock valued at $249,000 after purchasing an additional 774 shares during the last quarter. Bank of America Corp DE grew its stake in shares of AxoGen by 8.7% in the 1st quarter. Bank of America Corp DE now owns 10,183 shares of the medical equipment provider’s stock valued at $106,000 after purchasing an additional 814 shares during the last quarter. American International Group Inc. grew its stake in shares of AxoGen by 7.7% in the 1st quarter. American International Group Inc. now owns 14,941 shares of the medical equipment provider’s stock valued at $156,000 after purchasing an additional 1,068 shares during the last quarter. Finally, UBS Group AG grew its stake in shares of AxoGen by 8.3% in the 1st quarter. UBS Group AG now owns 16,141 shares of the medical equipment provider’s stock valued at $169,000 after purchasing an additional 1,234 shares during the last quarter. Hedge funds and other institutional investors own 66.77% of the company’s stock.
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AxoGen Company Profile
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed 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 nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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