Needham & Company Starts MiMedx Group (MDXG) at Buy

Needham & Company initiates coverage on MiMedx Group (NASDAQ: MDXG) with a Buy rating and a price target of $8.50.

Analyst Mike Matson states, "MDXG is selling its proprietary dehydrated human amnion/chorion membrane (dHACM) allograft tissue into addressable markets that total $13B. MDXG is benefiting from recent Medicare changes that favor products such as MDXG's that are available in smaller sizes. And a new distribution agreement with Medtronic's spine business should drive additional growth. MDXG has a very high gross margin and we expect it to rapidly leverage its operating costs and achieve profitability."

For an analyst ratings summary and ratings history on MiMedx Group click here. For more ratings news on MiMedx Group click here.

Shares of MiMedx Group closed at $7.01 yesterday.

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