Analyst Caitlin Cronin of Canaccord Genuity maintained a Buy rating on AxoGen, boosting the price target to $27.00.
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Caitlin Cronin has given her Buy rating due to a combination of factors that highlight AxoGen’s strong market position and growth potential. The company has demonstrated impressive performance with a significant increase in its portfolio, surpassing market expectations and raising its growth forecast for the fiscal year 2025. This growth is driven by strategic initiatives that include expanding its commercial operations and gaining broader societal recognition for its nerve repair solutions.
Furthermore, AxoGen’s ongoing discussions with the FDA regarding its Biologics License Application (BLA) for Avance Nerve Graft are promising, with expectations of maintaining a broad scope of patient indications. The anticipated approval could act as a catalyst for further market penetration and improved margins. Additionally, the company’s revenue guidance appears conservative, suggesting potential upside. These factors, coupled with increased commercial coverage and strategic self-funding plans, contribute to a positive outlook for AxoGen, justifying the Buy rating and an increased price target.
In another report released today, Citizens JMP also maintained a Buy rating on the stock with a $34.00 price target.