AxoGen (AXGN): First Analyst Day Offers 40% Growth Guidance w/o Avive - Wedbush
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Wedbush analyst, Tao Levy, reiterated his Outperform rating on shares of AxoGen, Inc. (NASDAQ: AXGN) after the company hosted its first analyst day in New York City. The analyst came away more confident of the company’s favorable growth prospects in the peripheral nerve repair market.
The meeting combined management presentations along with presentations from three surgeons who are considered key opinion leader (KOL) in the repair of peripheral nerve injuries and are active users of AxoGen’s product portfolio.
Important topics that were discussed included
1) AxoGen’s new nerve repair product, Avive
2) an update to management’s market outlook
3) two new nerve injury markets AXGN is exploring more closely
4)the latest surgeon perspectives on the repair of peripheral nerve injuries
Additionally, AXGN maintained its 2017 revenue and gross margin guidance of “at least 40% yr/yr growth” and gross margin at “above 80%” which management indicated does not assume any contribution from Avive.
No change to the price target of $12.
Shares of AxoGen, Inc. closed at $8.55 yesterday.
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Related EntitiesTao Levy
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