My thoughts exactly Doc. Pete and Bill have talked about that 300 to 400 million dollar figure for quite some time. I have thought though that Pete might wait until the second half of 2016 to sell the company off of 2017 projections. Maybe we won't be around that long? I'm only talking about another 15-18 months?
Here is some of his drivel from last month with his $6 price target.
Although "management has done a nice job of shepherding the company through some turbulence ... at almost an $850M valuation, we believe this stock is reflecting an overenthusiastic scenario; and at least on a fundamental basis, we believe it is prudent to move to the sideline," Northland Capital's Suraj Kalia says, regarding shares of MiMedx (MDXG -7.5%).
MDXG has faced a number of hurdles over the past six months including questions from the FDA about the status (HCT/P) of its products and new rules regarding Medicare coverage for EpiFix.
MDXG cut to Market Perform from Outperform.
Price target is $6.
Have you looked at the TIPRANKS website. Suraj gets a 1/2 star out of a 5 star possible.
Ranked #3196 out of 3501 Analysts (Ranked #7036 out of 7735 total experts)
Suraj just upgraded Alliqua again, but what he fails to realize is that company doesn't have Dr. Don Fetterolf. Suraj seems to be focused on reimbursement issues, but MiMedx is light years ahead of the competition. I suspect it will remain that way too until Pete sells this company.
I believe his college degree is in chemical engineering from Bombay University. He should probably focus his attention on the interaction between grease, potatoes, curry and peas, and how they affect flatulence.
"Candy - did you sell your MDXG earning SWING play shares? I would do so early this morning - it might close red"
I'll agree that you are stupid.
"I haven't detected any curry in the air today."
Suraj is a slimeball. He will be back. There is a large short interest in this stock, and he has their interest to protect. The ends justify the means. If he can't find anything negative about this company, then he will make something up.
I'm not sneezing, but I also saw no justification for the stock dropping from $12 to $8 in about a month. Revenues are increasing. Earnings are increasing, and the company is firing on all cylinders. They have even outgrown the new company headquarters in less than 2 years which was supposed to be sufficient space for 5 years. It sounds like progress is being made with the HHS and FDA. I must admit that I'm looking forward to seeing the shorts thrown onto the fire and cooked. Pete seems to think an answer from the HHS is coming soon.
The stock is drifting lower again here, but I would expect management to raise 2015 revenue guidance on Thursday. I'm also hoping they shed some new light on this government investigation into their sales practices.
MiMedx has been growing so quickly and taking market share from the competition. It shouldn't really come as a surprise that a MiMedx competitor would squeal to the government that there is foul play here regarding the sales practices. Pete Petit even acknowledged that he wasn't shocked by the government's request for information, but a request for information is not evidence of guilt or foul play. I find it unfortunate how easy it is for these class action lawyers and short sellers to spin the facts around, and make a request for information out to be an evidence of guilt and wrongdoing.
How concerned was Needham when they raised from buy to strong buy, and raised their price target? Perhaps the analyst felt like many long term shareholders that this is just idle background noise.
200 salesmen by the end of March and increasing reimbursement coming soon. Your hero Suraj likes to compare this company to companies without any reimbursement, and without any real income. He valued MiMedx last month at 4x 2015 revenues. There are several problems with Suraj and his analysis for short sellers. First, he is clueless about 2015 revenues. More importantly, this company will be sold at a much higher multiple to 2016 revenues. Do you think this donkey might have to raise his price target soon from $7 to $7.25? I embrace the volatility and increased short sellers in this stock. They just add further fuel for a good squeeze coming soon. It would be poetic justice to see Needham's $13 price target reached or exceeded by this Friday. The next quarterly conference call is February 26. $13 or higher by February 27!