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Cantor Fitzgerald initiated coverage of Organogenesis (NASDAQ: ORGO) with an overweight rating, citing an attractive valuation and the company’s highly differentiated technology portfolio.
Cantor said he has a favorable view of the estimated $24 billion markets for advanced wound care and surgical/sports medicine. You see Organogenesis’ offerings are “differentiated and protected given their strong clinical data,” adding that it was the only company to have an FDA PMA for both venous leg ulcers and diabetic foot ulcers.
“We estimate a return to growth in 2024 as the company works to win back customers who were ‘lost’ during the period of refund confusion,” Cantor added in his note.
The investment bank set a $5 price target for the shares.