AxoGen (NASDAQ:AXGN) Hits New 12-Month High – Time to Buy?

AxoGen, Inc. (NASDAQ:AXGN) shares hit a new 52-week high during mid-day trading on Saturday . The company traded as high as $18.40 and last traded at $18.05, with a volume of 1529046 shares changing hands. The stock had previously closed at $15.27.

Wall Street Analyst Weigh In

Separately, StockNews.com raised AxoGen from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, AxoGen has a consensus rating of “Buy” and a consensus price target of $15.00.

AxoGen Price Performance

The company has a 50 day moving average of $14.65 and a two-hundred day moving average of $12.72. The firm has a market cap of $794.34 million, a P/E ratio of -56.41 and a beta of 1.01. The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67.

Institutional Investors Weigh In On AxoGen

Several hedge funds have recently modified their holdings of AXGN. First Light Asset Management LLC lifted its stake in AxoGen by 336.6% in 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 acquiring an additional 2,578,147 shares in the last quarter. Geode Capital Management LLC lifted its stake in AxoGen by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock worth $14,170,000 after acquiring an additional 31,612 shares in the last quarter. State Street Corp lifted its stake in AxoGen by 11.9% in the 3rd quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock worth $12,571,000 after acquiring an additional 95,051 shares in the last quarter. Divisadero Street Capital Management LP lifted its stake 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 acquiring an additional 587,024 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in AxoGen by 2,912.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 549,000 shares of the medical equipment provider’s stock worth $7,697,000 after acquiring an additional 530,775 shares in the last quarter. 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.