Miromatrix Medical price target raised to $9 from $8 at Piper Sandler

Piper Sandler analyst Matt O’Brien raised the firm’s price target on Miromatrix Medical to $9 from $8 and keeps an Overweight rating on the shares. While the company underperformed expectations in Q3, the main focus will remain on the preclinical progress of the company’s bioengineered organs for the foreseeable future, and to that end, Miromatrix announced the recent submission of its IND for the miroliverELAP, its external liver assist product, the analyst tells investors in a research note. The current capitalization does not reflect the massive end markets that Miromatrix will play in, O’Brien adds.