Mike Kratky, an analyst from Leerink Partners, reiterated the Buy rating on AxoGen (AXGN – Research Report). The associated price target was lowered to $22.00.
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Mike Kratky has given his Buy rating due to a combination of factors that suggest a compelling risk/reward opportunity for AxoGen. Despite a mixed first-quarter performance, the fundamentals of AxoGen’s business remain solid, with potential for future outperformance. The company’s valuation appears attractive compared to its peers, and its growth strategy is promising. Key positive indicators include strong performance in high potential accounts, with significant year-over-year growth in both active accounts and productivity. Additionally, the company is making progress towards achieving positive cash flow by fiscal year 2025, which is crucial for its intermediate-term narrative. Furthermore, the anticipated approval of the Biologics License Application (BLA) in September is expected to enhance margins, reinforcing the company’s potential for execution and market penetration in nerve repair.
According to TipRanks, Kratky is a 5-star analyst with an average return of 16.2% and a 53.15% success rate. Kratky covers the Healthcare sector, focusing on stocks such as Dexcom, Edwards Lifesciences, and AxoGen.
In another report released on May 8, Lake Street also reiterated a Buy rating on the stock with a $30.00 price target.