Stock Alert: AxoGen Ascends 20%

(RTTNews) - Shares of surgical solutions developer AxoGen, Inc. (AXGN) are rising more than 20% Wednesday morning after raising third-quarter revenue guidance.

The compamny said in an SEC filing that it currently expects revenue of at least 30 million, as the impact of Covid-19 on the incidence of trauma and surgical procedure volumes has been less than previously anticipated. The prior outlook for third-qurater revenue was $28.6 million. Analysts polled by Thomson Reuters expect revenue of $23.04 million for the quarter.

AxoGen is scheduled to report its third-quarter results on Thursday, October 29.

AXGN is currently trading at $13.22. It has traded in the range of $7.16- $18.84 in the past 52 weeks.