MiMedx Group (MDXG) PT Raised to $12 at Needham & Company on EpiFix Results

Needham & Company analyst Mike Matson reiterated a Buy rating and bumped his price target on MiMedx Group (NASDAQ: MDXG) to $12.00 (from $11.00) as EpiFix significantly outperforms Apligraf in head-to-head trial.

Matson comments, "MDXG continues to produce strong clinical evidence to support its EpiFix skin substitute product. It just announced what we believe is its strongest evidence yet with a randomized controlled head-to-head comparison with Organogensis' (private) market leading product, Apligraf. The study, which should be published online in the International Wound Journal by the end of November, shows that EpiFix had much faster healing times and a much lower cost than Apligraf. We expect this study to allow EpiFix to gain further market share from Apligraf and allow MDXG to continue to beat conservative consensus estimates driving its share price higher."

For an analyst ratings summary and ratings history on MiMedx Group click here. For more ratings news on MiMedx Group click here.

Shares of MiMedx Group closed at $10.24 yesterday.

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