AxoGen, Inc. (NASDAQ:AXGN) hit a new 52-week high on Monday . The company traded as high as $18.90 and last traded at $18.90, with a volume of 371,590 shares trading hands. The stock had previously closed at $18.50.
A number of brokerages recently weighed in on AXGN. Roth Capital reaffirmed a “buy” rating and issued a $21.00 target price (up from $18.00) on shares of AxoGen in a research note on Tuesday, September 12th. BidaskClub downgraded shares of AxoGen from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $18.00 target price on shares of AxoGen in a research note on Monday, August 21st. Leerink Swann began coverage on shares of AxoGen in a research note on Monday, July 31st. They issued an “outperform” rating and a $22.00 target price on the stock. Finally, ValuEngine raised shares of AxoGen from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. AxoGen currently has a consensus rating of “Buy” and a consensus price target of $17.20.
The company’s 50-day moving average price is $16.39 and its 200 day moving average price is $14.01. The firm’s market cap is $628.24 million.
AxoGen (NASDAQ:AXGN) last issued its quarterly earnings data on Wednesday, August 2nd. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. AxoGen had a negative return on equity of 114.64% and a negative net margin of 27.50%. The business had revenue of $15.20 million for the quarter, compared to analysts’ expectations of $14.40 million. During the same period in the prior year, the firm earned ($0.09) EPS. The company’s revenue for the quarter was up 46.2% on a year-over-year basis. On average, equities analysts predict that AxoGen, Inc. will post ($0.31) EPS for the current fiscal year.
In other AxoGen news, Director Robert James Rudelius sold 16,143 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $18.00, for a total value of $290,574.00. Following the transaction, the director now owns 43,273 shares of the company’s stock, valued at approximately $778,914. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.33% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Thompson Davis & CO. Inc. grew its position in AxoGen by 575.0% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 6,750 shares of the medical equipment provider’s stock valued at $113,000 after acquiring an additional 5,750 shares during the last quarter. Bank of America Corp DE grew its position in 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 acquiring an additional 814 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in 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 acquiring an additional 93 shares during the last quarter. TFS Capital LLC bought a new position in AxoGen in the 1st quarter valued at $120,000. Finally, Neuberger Berman Group LLC bought a new position in AxoGen in the 2nd quarter valued at $201,000. 66.77% of the stock is currently owned by institutional investors.
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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