In a report released today, Craig Bijou from Cantor Fitzgerald maintained a Buy rating on AxoGen (AXGN), with a price target of $43. The company’s shares closed yesterday at $21.36, close to its 52-week low of $19.21.
Bijou observed:
“We think AXGN is one of the most compelling growth stories in medtech, with what we believe is sustainable top-line growth of north of 30% for the next two years. We expect utilization to accelerate as favorable clinical and economic data builds and increases surgeon awareness. We would also expect the company to continue to pursue additional market opportunities, as the technology is applicable to nerves across the body. Valuation Summary We value AXGN using a ~13x EV/Sales multiple on our 2019 sales estimate to arrive at our 12-month price target of $43.”
According to TipRanks.com, Bijou is a 1-star analyst with an average return of -2.6% and a 33.3% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Ra Medical Systems Inc, Zimmer Biomet Holdings, and Integra Lifesciences.
Currently, the analyst consensus on AxoGen is a Strong Buy with an average price target of $47, a 120.0% upside from current levels. In a report released today, JMP Securities also maintained a Buy rating on the stock with a $43 price target.
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The company has a one-year high of $56.85 and a one-year low of $19.21. Currently, AxoGen has an average volume of 573K.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock. Most recently, in September 2018, Jamie Mark Grooms, a Director at AXGN bought 12,494 shares for a total of $33,133.
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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.
