AxoGen price target lowered to $20 from $21 at Raymond James

Raymond James analyst Jayson Bedford lowered the firm’s price target on AxoGen (AXGN) to $20 from $21 and keeps an Outperform rating on the shares. AxoGen’s Q2 results demonstrated a step-up in momentum, with improvement seen in both revenue growth and gross margin, and while the low end of second half guidance implies a growth deceleration, this appears to be conservative given recent trends and contribution from newly added reps, the analyst tells investors in a research note.