MiMedx price target lowered to $11 from $12 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on MiMedx (MDXG) to $11 from $12 and keeps an Overweight rating on the shares following the earnings report. As a result of the Medicare local coverage determination delay, the firm anticipates a more difficult operating environment through year-end for MiMedx. The lack of clarity around reimbursement is expected to create uncertainty among physicians and could impact prescribing behavior, particularly as coverage extends to companies without randomized controlled trial data, the analyst tells investors in a research note.