MiMedx price target lowered to $5 from $10 at Lake Street

Lake Street analyst Brooks O’Neil lowered the firm’s price target on MiMedx (MDXG) to $5 from $10 and keeps a Buy rating on the shares. While the firm says it appreciates “the magnitude of the guide down and estimate revisions could warrant a re-evaluation of our rating,” it believes the worst of it has been seen and most of the downside is priced in. Additionally, the firm thinks “Surgical alone is worth more than the entire market cap of the company” and does not see balance sheet risk, the analyst tells investors.