AxoGen Inc. (NASDAQ: AXGN) features on our stock picks list, after issuing upbeat Q2 revenue guidance, and reaffirming FY22 revenue forecast.
The company sees Q2 revenue of about $34.4 million, representing a 2% increase over the prior year period, and an 8% increase when excluding the impact of $1.8 million revenue of Avive Soft Tissue Membrane in the second quarter of 2021. Seven Wall Street analysts have a consensus revenue estimate of $33.49 million for the quarter.
Further, the company reaffirmed its full-year 2022 financial guidance of revenue between $135 million and $142 million, and gross margin above 80%. Analysts look for revenue of $138.99 million for the year 2022.
Also, the company announced organizational updates. AxoGen is making certain changes to its commercial organization designed to leverage the strength of its growing portfolio of clinical data and support innovation of advanced nerve repair solutions.
“We are pleased with our performance in the second quarter, and we are encouraged by the strong underlying demand for our products. I would like to thank Eric and wish him well in his future endeavors,” said Karen Zaderej.
The company’s current chief commercial officer Eric Sandberg will be leaving the organization effective July 19, 2022.
AxoGen develops and markets surgical solutions for physical damage or transection to peripheral nerves.
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We published AxoGen Inc. (AXGN) on July 19, 2022 when it was trading around $8.42. The stock reached an intra-day high of $13.66 on November 10, 2022, representing a gain of 62%.
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