In a report released yesterday, Caitlin Cronin from Canaccord Genuity maintained a Buy rating on AxoGen (AXGN – Research Report), with a price target of $26.00.
Caitlin Cronin has given her Buy rating due to a combination of factors that highlight AxoGen’s strategic positioning and growth potential. The company is actively participating in a substantial U.S. total addressable market (TAM) exceeding $5 billion, which remains largely untapped. AxoGen’s focus on innovation and medical education aims to make its nerve repair algorithm more accessible and repeatable, supported by a skilled commercial team targeting high-potential accounts.
Cronin also notes the potential impact of the FDA’s upcoming decision on Avance’s transition to a biologic product, which could provide long-term data exclusivity and bolster AxoGen’s position as a standard of care. The company’s strategic plan from 2025 to 2028 outlines a clear path for growth, including international expansion and investments in elective procedures. With expectations of a 15-20% CAGR and plans for self-funded growth, Cronin sees AxoGen as well-positioned for future success, despite current risks associated with execution and regulatory decisions.
Cronin covers the Healthcare sector, focusing on stocks such as Globus Medical, Vericel, and AxoGen. According to TipRanks, Cronin has an average return of 14.6% and a 61.11% success rate on recommended stocks.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $26.00 price target.
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