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MiMedx Group, Inc. Message Board

  • tipsmaster tipsmaster Oct 9, 2013 12:34 PM Flag

    The Canacord note

    MiMedx Group Receives New Coverage from Analysts at Canaccord Genuity (MDXG)

    Posted by Ethan Ryder on Oct 8th, 2013 // No Comments

    MiMedx Group logoCanaccord Genuity initiated coverage on shares of MiMedx Group (NASDAQ:MDXG) in a research report sent to investors on Friday morning,The firm issued a buy rating and a $6.00 price target on the stock.

    “By our estimates, the dermal substitute segment of the advanced wound care market generated ~$354M of revenues in 2012, growing ~23% per year since 2009. MiMedx utilizes distinct distribution channels for its three revenue reporting segments: Wound Care, Surgical & Sports Medicine, and Other/OEM. We believe the increasing number of reps in the direct channel on the commercial side for wound care, combined with improved coverage, will drive top-line growth in 2013 and beyond. AWC Direct reps are expected to increase to ~140 by YE15 from ~49 in Q2/13.,” the firm’s analyst wrote.

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