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

AxoGen, Inc. (NASDAQ:AXGN) hit a new 52-week high on Friday . The company traded as high as $18.96 and last traded at $18.43, with a volume of 463731 shares trading hands. The stock had previously closed at $18.73.

Analysts Set New Price Targets

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

AxoGen Trading Down 1.6 %

The company has a quick ratio of 2.47, a current ratio of 3.74 and a debt-to-equity ratio of 0.67. The firm’s 50-day simple moving average is $14.97 and its 200 day simple moving average is $12.96. The stock has a market capitalization of $811.07 million, a P/E ratio of -57.59 and a beta of 1.01.

Institutional Investors Weigh In On AxoGen

Several hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in AxoGen by 2,912.3% in the third 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. Principal Financial Group Inc. bought a new stake in AxoGen in the third quarter worth about $207,000. Franklin Resources Inc. raised its holdings in AxoGen by 9.8% during the 3rd quarter. Franklin Resources Inc. now owns 76,048 shares of the medical equipment provider’s stock worth $1,084,000 after buying an additional 6,767 shares during the period. Barclays PLC raised its holdings in 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 buying an additional 39,182 shares during the period. Finally, Geode Capital Management LLC raised its holdings 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 worth $14,170,000 after buying an additional 31,612 shares during the period. 80.29% of the stock is currently owned by 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.