In a report released today, Carl Byrnes from Northland Securities maintained a Buy rating on MiMedx Group (MDXG – Research Report), with a price target of $12.00. The company’s shares closed yesterday at $8.47.
Byrnes covers the Healthcare sector, focusing on stocks such as MiMedx Group, Heron Therapeutics, and Alvotech. According to TipRanks, Byrnes has an average return of -6.9% and a 35.98% success rate on recommended stocks.
Currently, the analyst consensus on MiMedx Group is a Strong Buy with an average price target of $11.67.
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Based on MiMedx Group’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $81.71 million and a net profit of $8.53 million. In comparison, last year the company earned a revenue of $67.69 million and had a GAAP net loss of $8.43 million
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MDXG in relation to earlier this year.
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MiMedx Group (MDXG) Company Description:
MiMedx Group, Inc. is an advanced wound care and an emerging therapeutic biologics company. It engages in developing and distributing human placental tissue allografts with patent-protected processes for multiple sectors of healthcare. The company processes the human placental tissue utilizing its proprietary PURION process methodology, among other processes, to produce allografts by employing aseptic processing techniques in addition to terminal sterilization. MiMedx Group was founded on July 30, 1985 and is headquartered in Marietta, GA.
Read More on MDXG:
- MIMEDX Announces Improved Capital Structure with New Senior Secured Credit Facilities and Debt Refinancing
- MiMedx announces new senior secured credit facilities, debt refinancing
- MiMedx named a ‘2024 Top Pick’ at Northland
- MIMEDX Provides AXIOFILL® Update & Reiterates 2023 Full Year Net Sales and Fourth Quarter Adjusted EBITDA Margin Outlook
- MiMedx announces conversion of outstanding Series B convertible preferred stock
