AxoGen Shares Rise to New Record

AxoGen shares rose to their highest level ever on Monday after the company said it expects to report Q4 revenue of at least $11.3 million, up 45% from a year ago and above the $10.8 million average estimate from analysts polled by Capital IQ. AXGN was up over 7% at $9.98 recently, having earlier traded as high as $10.35. The 52-week low is at $4.52.

FY revenue is expected to be at least up 50% at $41 million, topping the $40.5 million consensus. For 2017, AxoGen still expects revenue to grow at least by 40% and for gross margins to remain above 80%.

By Travis Berry