Canaccord raised the firm’s price target on AxoGen (AXGN) to $37 from $27 and keeps a Buy rating on the shares. The firm noted the company announced FDA approval of the Biologics License Application (BLA) for Avance, formally transitioning the product from tissue-regulated status to a fully licensed biologic. This approval covers adult and pediatric patients with sensory, mixed, and motor peripheral nerve discontinuities. Canaccord sees the approval as a key catalyst for continued increases in commercial covered lives as well as societal and surgeon adoption.
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