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On Tuesday, Cantor Fitzgerald analyst Ross Osborn increased the price target on AxoGen, Inc. (NASDAQ:AXGN) shares to $24.00 from $22.00, while reaffirming an Overweight stock rating. The adjustment followed the company’s announcement of its fourth-quarter 2024 operating results and the establishment of its calendar year 2025 guidance earlier in the day. According to InvestingPro data, AxoGen maintains a strong financial health score, operating with moderate debt levels and liquid assets exceeding short-term obligations.
AxoGen reported fourth-quarter revenue of $49.4 million, surpassing Cantor Fitzgerald’s pre-announcement estimate of $48.1 million and the FactSet consensus of $47.6 million. This revenue reflects a year-over-year growth of approximately 15%, driven by an 11% increase in unit volume mix and a 4% rise in price. The company has maintained strong momentum, with InvestingPro data showing an impressive 18.8% revenue growth over the last twelve months and a five-year revenue CAGR of 14%.
Looking ahead, AxoGen has provided a positive revenue outlook for the calendar year 2025, projecting revenues in the range of approximately $215.4 million to $219.1 million. This guidance beats Cantor Fitzgerald’s pre-announcement estimate of $214.3 million and the FactSet consensus of $209.1 million, indicating expected year-over-year growth of 15% to 17%. While currently not profitable, InvestingPro analysis indicates that net income is expected to grow this year, with analysts forecasting the company to turn profitable in 2024.
Cantor Fitzgerald’s analyst believes that AxoGen’s efforts to expand its commercial organization and capitalize on recurring revenue opportunities will support the company in achieving its revenue guidance. The analyst views the company as well-positioned to continue its growth and profitability trajectory through 2025.
In response to the optimistic guidance and the analyst’s updated price target, AxoGen’s shares experienced an upswing of approximately 6% on Tuesday, contrasting with the SP568’s decline of roughly 1.7% as of 10:00 am ET on the same day.
In other recent news, Axogen reported fourth-quarter earnings that exceeded analyst expectations, leading to a positive response from investors. The company achieved adjusted earnings per share of $0.07, surpassing the analyst estimate of $0.03. Revenue for the quarter was $49.4 million, which not only exceeded the consensus estimate of $47.58 million but also represented a 15.1% increase compared to the previous year. Axogen’s gross margin improved to 76.1% in the fourth quarter, up from 74.6% a year earlier, while net income reached $0.4 million, reversing a net loss from the same period last year. For the full year 2024, the company’s revenue grew by 17.8% to $187.3 million, and it projects revenue growth of 15% to 17% for 2025. Additionally, the FDA has accepted Axogen’s Biologics License Application for Avance Nerve Graft, with an anticipated approval in September 2025. Cantor analyst Ross Osborne reiterated an Overweight rating on Axogen, raising the price target from $22.00 to $24.00 following these results. The analyst noted the company’s favorable revenue guidance for 2025 and its efforts in expanding its commercial operations.
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