AxoGen (NASDAQ:AXGN) Sees Strong Trading Volume – Still a Buy?

AxoGen, Inc. (NASDAQ:AXGN) shares saw unusually-strong trading volume on Friday . Approximately 338,875 shares changed hands during 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 Analyst Weigh In

Several research analysts have recently weighed in on AXGN shares. JMP Securities upped their target price on AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, August 9th. Canaccord Genuity Group reiterated a “buy” rating and set a $15.00 price target on shares of AxoGen in a research report on Thursday, June 20th. StockNews.com upgraded AxoGen from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Finally, Raymond James initiated coverage on AxoGen in a research report on Monday, July 1st. They set an “outperform” rating and a $13.00 price target for the company. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, AxoGen presently has an average rating of “Buy” and a consensus target price of $13.80.

AxoGen Trading Up 8.2 %

The company has a current ratio of 3.51, a quick ratio of 2.32 and a debt-to-equity ratio of 0.70. The company has a fifty day simple moving average of $12.82 and a 200-day simple moving average of $9.24. The company has a market capitalization of $642.90 million, a PE ratio of -29.42 and a beta of 1.13.

AxoGen (NASDAQ:AXGN) last issued its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.10. The company had revenue of $47.91 million during the quarter, compared to analysts’ expectations of $43.27 million. AxoGen had a negative return on equity of 17.30% and a negative net margin of 9.53%. Analysts predict that AxoGen, Inc. will post -0.33 EPS for the current year.

Institutional Trading of AxoGen

Several large investors have recently added to or reduced their stakes in AXGN. BNP Paribas Financial Markets grew its holdings in shares of AxoGen by 8.6% during the 1st quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock worth $168,000 after purchasing an additional 1,651 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of AxoGen by 8.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,650 shares of the medical equipment provider’s stock worth $240,000 after purchasing an additional 2,204 shares during the period. Lazard Asset Management LLC grew its holdings in shares of AxoGen by 30.1% during the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock worth $93,000 after purchasing an additional 2,671 shares during the period. Rhumbline Advisers grew its holdings in shares of AxoGen by 6.2% during the 2nd quarter. Rhumbline Advisers now owns 58,157 shares of the medical equipment provider’s stock worth $421,000 after purchasing an additional 3,380 shares during the period. Finally, Koss Olinger Consulting LLC purchased a new position in shares of AxoGen during the 2nd quarter worth $75,000. 80.29% of the stock is currently 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.