MiMedx initiated with an Outperform at Citizens

Citizens analyst David Turkaly initiated coverage of MiMedx (MDXG) with an Outperform rating and $10 price target MiMedx manufactures and distributes a suite of proprietary biologics and skin substitutes for use in the treatment of chronic wounds, the analyst tells investors in a research note. The firm says the recent “unprecedented” reimbursement headwinds impacting the company’s Medicare patient population have disproportionately weighed on the stock. MiMedx is “set for a comeback,” contends Citizens.