AxoGen (NASDAQ:AXGN) Hits New 52-Week High – Still a Buy?

AxoGen, Inc. (NASDAQ:AXGN) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $16.48 and last traded at $15.86, with a volume of 167847 shares changing hands. The stock had previously closed at $15.64.

Analyst Ratings Changes

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

AxoGen Stock Performance

The company has a current ratio of 3.74, a quick ratio of 2.47 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $693.13 million, a PE ratio of -49.22 and a beta of 1.06. The firm’s 50-day simple moving average is $13.91 and its two-hundred day simple moving average is $11.78.

Institutional Trading of AxoGen

A number of hedge funds have recently made changes to their positions in AXGN. Principal Financial Group Inc. purchased a new position in AxoGen in the third quarter valued at about $207,000. Franklin Resources Inc. grew its position in shares of AxoGen by 9.8% in the third quarter. Franklin Resources Inc. now owns 76,048 shares of the medical equipment provider’s stock valued at $1,084,000 after purchasing an additional 6,767 shares during the last quarter. Barclays PLC lifted its position in shares of AxoGen by 119.3% during the 3rd quarter. Barclays PLC now owns 72,036 shares of the medical equipment provider’s stock worth $1,010,000 after purchasing an additional 39,182 shares during the last quarter. Geode Capital Management LLC boosted its stake in AxoGen by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,010,508 shares of the medical equipment provider’s stock valued at $14,170,000 after purchasing an additional 31,612 shares during the period. Finally, State Street Corp grew its holdings in AxoGen by 11.9% in the 3rd quarter. State Street Corp now owns 896,674 shares of the medical equipment provider’s stock valued at $12,571,000 after buying an additional 95,051 shares during the last quarter. 80.29% of the stock is owned by hedge funds and other institutional investors.

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.