Cantor starts Organogenesis at overweight, cites differentiated portfolio (NASDAQ:ORGO)

Cantor Fitzgerald has initiated coverage of Organogenesis (NASDAQ:ORGO) with an overweight rating, citing attractive valuation and the company’s highly differentiated technology portfolio.

Cantor said it holds a favorable view of the estimated $24B advanced wound care and surgical/sports medicine markets. It sees Organogenesis’s offerings as “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 regain customers that were ‘lost’ during the period of reimbursement confusion,” Cantor added in its note.

The investment bank set a price target of $5 for the stock.