AxoGen (AXGN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on January 18. Analyst Mike Kratky from Leerink Partners remains neutral on the stock and has a $9.00 price target.
Mike Kratky has given his Buy rating due to a combination of factors involving AxoGen’s recent clinical and financial developments. The positive outcome of the REPOSE study, which demonstrated the effectiveness of AxoGen’s Axoguard Nerve Cap, played a crucial role in this assessment. The study not only met its primary endpoint by proving non-inferiority but also showed that patients experienced significant improvements in pain over a 12-month period when compared to standard neurectomy procedures. This significant reduction in pain is a strong indicator of the product’s effectiveness and potential for broader application.
Moreover, the study’s design, which aimed to reflect a range of nerve terminations throughout the body, contributes to a better understanding of Axoguard Nerve Cap’s impact across various surgical procedures. The anticipation of full study results and subsequent publication in the coming years is likely to further reinforce AxoGen’s leadership in nerve repair. This, along with the company’s recent report of better-than-expected preliminary sales, provides a robust basis for the Buy rating, as it underscores AxoGen’s growth trajectory and the expanding value of its product portfolio within the healthcare market.
In another report released on January 8, Jefferies also maintained a Buy rating on the stock with a $9.50 price target.
AXGN’s price has also changed slightly for the past six months – from $8.950 to $8.140, which is a -9.05% drop .
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AxoGen (AXGN) Company Description:
AxoGen, Inc. engages in the development and market of surgical solutions for peripheral nerves. It also provides products and education to improve surgical treatment algorithms for peripheral nerve damage or discontinuity. Its products include avance nerve graft, axoguard nerve connector, axoguard nerve protector, avive soft tissue membrane, acroval neurosensory and motor testing system, and axotouch two-point discriminator. The company was founded in 1977 and is headquartered in Alachua, FL.
Read More on AXGN:
- Axogen, Inc. Announces Positive Topline Results from REPOSE, a Prospective, Randomized Clinical Trial of Axoguard Nerve Cap
- AxoGen announces results from REPOSE clinical study
- Axogen Reports Preliminary Unaudited Revenue for Fourth Quarter and Full-Year 2023
- AxoGen raises 2023 revenue view to upper end of $154M-$159M view
- AxoGen sees Q4 revenue $42.7M, consensus $40.68M
