AxoGen (NASDAQ:AXGN) Sees Strong Trading Volume – Here’s What Happened

AxoGen, Inc. (NASDAQ:AXGN) saw unusually-strong trading volume on Friday . Approximately 338,875 shares were traded during mid-day 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 Analysts Forecast Growth

A number of equities analysts recently commented on AXGN shares. Raymond James started coverage on shares of AxoGen in a research report on Monday, July 1st. They issued an “outperform” rating and a $13.00 target price on the stock. JMP Securities lifted their target price on shares of AxoGen from $17.00 to $20.00 and gave the stock a “market outperform” rating in a research report on Friday, August 9th. StockNews.com raised shares of AxoGen from a “hold” rating to a “buy” rating in a report on Friday, October 4th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $15.00 price target on shares of AxoGen in a report on Thursday, June 20th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $13.80.

AxoGen Price Performance

The business’s 50 day moving average price is $12.69 and its two-hundred day moving average price is $9.18. The stock has a market cap of $649.12 million, a P/E ratio of -37.87 and a beta of 1.13. The company has a current ratio of 3.51, a quick ratio of 2.32 and a debt-to-equity ratio of 0.70.

AxoGen (NASDAQ:AXGN) last announced its earnings results on Thursday, August 8th. The medical equipment provider reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. The firm had revenue of $47.91 million for the quarter, compared to analyst estimates of $43.27 million. AxoGen had a negative net margin of 9.53% and a negative return on equity of 17.30%. As a group, sell-side analysts expect that AxoGen, Inc. will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AxoGen

Large investors have recently modified their holdings of the stock. Koss Olinger Consulting LLC purchased a new position in AxoGen during the 2nd quarter valued at about $75,000. Lazard Asset Management LLC lifted its position in AxoGen by 30.1% during the 1st quarter. Lazard Asset Management LLC now owns 11,539 shares of the medical equipment provider’s stock valued at $93,000 after acquiring an additional 2,671 shares during the period. Acadian Asset Management LLC purchased a new position in AxoGen in the second quarter worth about $125,000. BNP Paribas Financial Markets raised its holdings in AxoGen by 8.6% in the first quarter. BNP Paribas Financial Markets now owns 20,820 shares of the medical equipment provider’s stock worth $168,000 after buying an additional 1,651 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in AxoGen in the third quarter worth about $227,000. Institutional investors own 80.29% of the company’s stock.

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.