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Investing.com - H.C. Wainwright has reiterated its Buy rating on AxoGen, Inc. (NASDAQ:AXGN), maintaining a price target of $25.00 per share. The company, currently trading at $17.26, has shown strong momentum with 17% revenue growth in the last twelve months. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $20 to $30.
The research firm’s analyst Yi Chen reaffirmed the positive outlook for the nerve repair company in a note issued to investors on Tuesday.
AxoGen specializes in peripheral nerve repair solutions, offering products designed to treat patients with peripheral nerve injuries.
The $25.00 price target suggests significant upside potential from the stock’s current trading levels.
H.C. Wainwright’s maintained rating comes as investors continue to monitor developments in the medical technology sector.
In other recent news, AxoGen, Inc. has experienced a significant development as the U.S. Food and Drug Administration (FDA) extended the review timeline for the company’s Biologics License Application (BLA) for the Avance Nerve Graft. The new Prescription Drug User Fee Act (PDUFA) goal date is now set for December 5, 2025, following the FDA’s classification of AxoGen’s response to an information request as a "Major Amendment." This amendment included substantial new manufacturing and facility data that necessitated additional review time. Despite the delay, Raymond James has maintained an Outperform rating for AxoGen, with a price target of $20.00, acknowledging that such a delay was not entirely unexpected given the unique nature of the filing. This development reflects the FDA’s need for thorough evaluation of the new data provided by AxoGen. The extended timeline emphasizes the complexity of the approval process for the Avance Nerve Graft. These recent developments are crucial for investors monitoring AxoGen’s progress with the FDA.
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