Raymond James Slashes PT on Axogen (AXGN) to $20 From $21

Axogen, Inc. (NASDAQ:AXGN) is one of the best medical device stocks to buy according to analystsOn August 6, Raymond James analyst Jayson Bedford lowered the firm’s price target on Axogen, Inc. (NASDAQ:AXGN) to $20 from $21, keeping an Outperform rating on the shares.

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An orthopedic surgeon connecting peripheral nerves with AxoGuard Nerve Connector, showing the precision and care of AxoGuard’s products.

The analyst told investors in a research note that Axogen, Inc.’s (NASDAQ:AXGN) Q2 results exhibited a step-up in momentum, with gross margin and revenue growth both demonstrating an improvement.

He added that while the low end of H2 guidance points towards a growth deceleration, it appears to be conservative given recent trends and contribution from newly added reps.

Axogen, Inc. (NASDAQ:AXGN) develops and markets surgical solutions for peripheral nerve regeneration and repair. The company’s products include avive soft tissue membrane, acroval neurosensory and motor testing system, avance nerve graft, axoguard nerve connector, axoguard nerve protector, and more.

While we acknowledge the potential of AXGN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AXGN and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.