AxoGen (NASDAQ:AXGN) Sees Large Volume Increase – Should You Buy?

AxoGen, Inc. (NASDAQ:AXGN) shares saw an uptick in trading volume on Friday . 993,843 shares traded hands during trading, a decline of 0% from the previous session’s volume of 996,772 shares.The stock last traded at $39.3880 and had previously closed at $37.37.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AXGN. Canaccord Genuity Group reaffirmed a “buy” rating and set a $40.00 price objective on shares of AxoGen in a report on Monday, March 30th. Citigroup reaffirmed an “outperform” rating on shares of AxoGen in a report on Tuesday, February 24th. Wells Fargo & Company began coverage on shares of AxoGen in a report on Thursday, February 19th. They set an “overweight” rating and a $40.00 price objective for the company. Citizens Jmp raised their price objective on shares of AxoGen from $34.00 to $42.00 and gave the stock a “market outperform” rating in a report on Tuesday, February 24th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $41.00 price objective on shares of AxoGen in a report on Monday, February 23rd. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.75.

AxoGen Trading Up 3.0%

The company has a quick ratio of 3.31, a current ratio of 5.11 and a debt-to-equity ratio of 0.51. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -113.23 and a beta of 0.98. The business’s fifty day moving average is $32.72 and its two-hundred day moving average is $29.08.

AxoGen (NASDAQ:AXGN) last issued its quarterly earnings results on Tuesday, February 24th. The medical equipment provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The company had revenue of $59.90 million during the quarter, compared to analyst estimates of $59.90 million. AxoGen had a negative net margin of 6.97% and a negative return on equity of 13.44%. Equities analysts anticipate that AxoGen, Inc. will post -0.29 earnings per share for the current fiscal year.

Insider Transactions at AxoGen

In other AxoGen news, insider Erick Wayne Devinney sold 5,221 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $32.84, for a total value of $171,457.64. Following the transaction, the insider directly owned 262,781 shares of the company’s stock, valued at approximately $8,629,728.04. This trade represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.78% of the company’s stock.

Hedge Funds Weigh In On AxoGen

Several institutional investors and hedge funds have recently made changes to their positions in AXGN. Royal Bank of Canada grew its holdings in shares of AxoGen by 14.2% in the 1st quarter. Royal Bank of Canada now owns 38,043 shares of the medical equipment provider’s stock valued at $704,000 after buying an additional 4,723 shares during the period. AQR Capital Management LLC grew its holdings in shares of AxoGen by 45.3% in the 1st quarter. AQR Capital Management LLC now owns 23,917 shares of the medical equipment provider’s stock valued at $442,000 after buying an additional 7,453 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of AxoGen by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,185 shares of the medical equipment provider’s stock valued at $466,000 after buying an additional 1,057 shares during the period. Jones Financial Companies Lllp lifted its position in AxoGen by 104,810.0% in the 1st quarter. Jones Financial Companies Lllp now owns 10,491 shares of the medical equipment provider’s stock valued at $194,000 after acquiring an additional 10,481 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in AxoGen by 37.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 379,070 shares of the medical equipment provider’s stock valued at $4,113,000 after acquiring an additional 103,072 shares in the last quarter. Institutional investors and hedge funds own 80.29% of the company’s stock.

AxoGen Company Profile

AxoGen, Inc is a Florida-based medical technology company that develops and commercializes surgical solutions for peripheral nerve damage. Founded in 2002 and headquartered in Alachua, Florida, the company focuses on restoring nerve function and improving patient outcomes through innovative biologic and engineered products. AxoGen’s offerings address a range of traumatic and iatrogenic injuries, offering alternatives to traditional nerve autografts.

The company’s core product portfolio includes the Avance® Nerve Graft, a decellularized human nerve allograft designed to bridge nerve gaps without the need for a secondary harvest site, and the Axoguard® Nerve Connector and Protector devices, which facilitate nerve coaptation and protect repaired sites from surrounding scar tissue.