Analyst David Turkaly of JMP Securities reiterated a Buy rating on AxoGen (AXGN – Research Report), retaining the price target of $26.00.
David Turkaly has given his Buy rating due to a combination of factors that highlight AxoGen’s promising future. One of the key reasons is the company’s strategic positioning in four significant markets, which include extremities, oral and maxillofacial, breast, and prostate. These markets are expected to see substantial growth, and AxoGen’s innovative products, such as the Avance Nerve Graft, are well-positioned to capitalize on these opportunities. The company’s recent investor day provided insights into its long-term financial outlook and the potential for market expansion, which Turkaly views as a positive indicator for future performance.
Another critical factor influencing the Buy rating is the anticipated BLA approval for the Avance Nerve Graft. This approval is expected to enhance AxoGen’s market exclusivity and improve its commercial insurance coverage, which is currently limited. The approval would also help establish Avance as the standard of care in its target markets. Additionally, AxoGen’s commitment to educational partnerships and its expertise in nerve repair further strengthen its competitive advantage. These elements collectively contribute to Turkaly’s optimistic outlook and the $26 price target for AxoGen’s stock.
In another report released on February 25, Leerink Partners also maintained a Buy rating on the stock with a $25.00 price target.
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