Organogenesis initiated with an Equal Weight at Morgan Stanley

Morgan Stanley initiated coverage of Organogenesis with an Equal Weight rating and $5 price target. The firm appreciate Organogenesis’s positioning and comprehensive portfolio in wound care and pipeline opportunities, but is kept on the sidelines ahead of CMS’ upcoming July proposal, the analyst tells investors in a research note. These reimbursement overhangs make it incrementally challenging to handicap or have visibility on intermediate-term trends, the firm states.