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 opened today at $20.70, close to its 52-week low of $16.44.
Bijou said:
“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 -2.4% and a 34.3% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Ra Medical Systems Inc, and Integra Lifesciences.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for AxoGen with a $47.67 average price target.
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Based on AxoGen’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $4.1 million. In comparison, last year the company had a GAAP net loss of $2.5 million.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is neutral on the stock. Most recently, in December 2018, Karen Zaderej, the CEO of AXGN bought 30,000 shares for a total of $82,200.
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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.
