MiMedx estimates and price target raised at Canaccord Canaccord raised its estimates and price target on MiMedx following news that management has formally responded to the FDA and proposed moving forward with clinical trials required to support an IND and BLA for its micronized products. The firm raised its price target to $8 to reflect continued sales of micronized products and reimbursement changes which could provide additional upside to estimates. Shares are Buy rated.
News For MDXG From The Last 14 Days
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MiMedx reports Q1 revenue slightly exceeded upper end of guidance Q1 guidance was $18M-$19.5M. Q1 consensus of $19.09M. March revenue, in particular, grew significantly. The company expects a minimal amount of the confusion experienced in the first quarter will continue for a portion of the second quarter and then dissipate during the second quarter.