AxoGen price target raised to $34 from $26 at Citizens JMP

Citizens JMP raised the firm’s price target on AxoGen (AXGN) to $34 from $26 and keeps an Outperform rating on the shares. Sales of $60.1M reflected another all-time quarterly record in dollars and represented the second-best top-line growth performance in four years, the analyst tells investors in a research note. AxoGen has truly differentiated products for nerve protection and repair, and a biologics license application could help make Avance the standard-of-care solution in peripheral nerve repair over time, Citizens argues.