MiMedx price target lowered to $7 from $10 at Citizens

Citizens analyst David Turkaly lowered the firm’s price target on MiMedx (MDXG) to $7 from $10 and keeps an Outperform rating on the shares. MiMedx is implementing cost-cutting measures expected to reduce annual operating expenses by about $40M, though it continues to face slow recovery and top-line pressure due to broader reimbursement disruptions in wound care, the analyst tells investors in a research note. Despite these challenges, the company is seen as well-positioned to outperform over time given its strong clinical data, established infrastructure, and ability to adapt to shifting care settings, the firm says.