Axogen surges on strong late-stage trial data of nerve graft product
05/05/2022 15:20
(Updates)
** Axogen's shares AXGN.O surge 23% to $10.18 in early
trade - set for biggest pct jump in over 22 months if gains hold
** Late-stage trial data of co's Avance Nerve Graft meets
primary endpoint and shows statistical superiority for two
secondary endpoints, when compared with conduits, in some
patients with nerve injuries urn:newsml:reuters.com:*:nGNX85Jdr7
** SVB Securities says new late-stage data from AXGN's nerve
graft product will continue to fuel adoption among surgeons
** Says data increases SVB'S confidence in AXGN's
"longer-term high-teens to low-20's" percentage growth annual
trajectory
** Brokerage raises PT on AXGN to $14 from $12 while
maintaining "outperform" rating
** Four of 6 brokerages rate the stock "buy" or higher, 2
"hold"; their median PT is $20 - Refinitiv data
** Including session's gain, stock now up nearly 9% YTD
(Reporting by Leroy Leo in Bengaluru)
((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))