Mike Kratky, an analyst from Leerink Partners, maintained the Buy rating on AxoGen (AXGN – Research Report). The associated price target remains the same with $25.00.
Mike Kratky has given his Buy rating due to a combination of factors that highlight AxoGen’s strategic growth potential. The company has outlined an expanded total addressable market (TAM) of $5.6 billion, which includes key areas such as extremities, OMF/head and neck, and breast neurotization, along with a new opportunity in the prostate market projected to contribute significant revenue by FY26. AxoGen’s management is focused on increasing market adoption through strategic initiatives like expanding their commercial presence, training more surgeons, and enhancing reimbursement processes.
Additionally, AxoGen plans to leverage clinical data and engage with medical societies to update guidelines, aiming to increase product utilization and penetrate high-potential accounts. The anticipated BLA approval in September is expected to improve coverage among commercial payers, addressing the current lack of coverage for Avance. With a projected compound annual growth rate (CAGR) of 15-20% and a target operating cash flow of over $70 million by the end of 2028, Kratky remains optimistic about AxoGen’s commercial execution and future share performance.
In another report released on March 5, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $24.00 price target.
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