AxoGen Receives a Buy from Cantor Fitzgerald

In a report released yesterday, Craig Bijou from Cantor Fitzgerald reiterated a Buy rating on AxoGen (NASDAQ: AXGN), with a price target of $45. The company’s shares closed yesterday at $39.80, close to its 52-week high of $41.73.

Bijou observed:

“Modest top-line beat; active accounts continue to grow. AXGN reported 1Q revenue of $17.3MM (+41%), beating the Street by $100k. Its active accounts increased to 604, up 30% from 1Q17. Product utilization continues to increase at active accounts, as AXGN now generates >6x revenue from accounts ordering its portfolio of products vs. accounts ordering only one. AXGN reiterated 2018 guidance of >40% revenue growth and gross margins above 80%. The company now expects to end 2018 with 80 reps, up from the prior expectation of 75.”

According to TipRanks.com, Bijou is a 4-star analyst with an average return of 22.0% and a 57.9% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and Wright Medical Group.

AxoGen has an analyst consensus of Strong Buy, with a price target consensus of $42.67.

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The company has a one-year high of $41.73 and a one-year low of $11.70. Currently, AxoGen has an average volume of 343.6K.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock.

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AxoGen, Inc. engages in the development and market of surgical solutions for peripheral nerves. It also provide products and education to improve surgical treatment algorithms for peripheral nerve damage or discontinuity.