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AxoGen (AXGN) Shows Strength: Stock Moves 13.2% Higher

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AxoGen, Inc. (AXGN - Free Report) was a big mover last session with its shares rising over 13% on the day. The upside was owing to the company selling 4,861,111 registered shares of its common stock to Essex Woodlands – a leading investment firm focused on growth-oriented companies in the healthcare sector. The sale was completed at a price of $3.60 per share, generating net proceeds of approximately $17.1 million for AxoGen. This development led to far more shares changing hands yesterday than in a normal session. The move breaks the recent trend of the company as the stock is now trading above the past one month’s volatile price range of $3.35 to $3.95.

This medical technology company providing surgical nerve repair solutions has witnessed 2 positive estimate revisions in the last 30 days. The Zacks Consensus Estimate has also moved higher over the same period. This implies solid trading potential for the company. So make sure to keep an eye on this stock going forward to see if yesterday’s rally can turn into more strength down the road.

AxoGen currently has a Zacks Rank #2 (Buy) while its Earnings ESP is positive.

Investors interested in the biomedical industry may also consider Dr. Reddy's Laboratories Ltd. (RDY - Free Report) , which sports a Zacks Rank #1 (Strong Buy).

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