AxoGen price target raised to $40 from $30 at Lake Street

Lake Street analyst Frank Takkinen raised the firm’s price target on AxoGen (AXGN) to $40 from $30 and keeps a Buy rating on the shares, calling the approval of Avance with an unconstrained label supportive of use in all Axogen’s present nerve repair cases a “best-case-scenario outcome.” The firm thinks this should accelerate growth and “support a high-multiple takeout given the 15-20% growth profile,” the analyst tells investors.