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Truist analyst Samuel Brodovsky raised the firm's price target on Vericel to $29 from $25 but keeps a Hold rating on the shares as part of a broader research note previewing Q4 earnings in MedTech. The initial positive stock move in reaction to MACI Arthroscopic Program performance and the company's positive addressable market updates has faded more recently, and the firm is looking for increased visibility around revenue acceleration from NexoBrid, which could be a late 2023 catalyst for Vericel, the analyst tells investors in a research note.

H.C. Wainwright analyst Swayampakula Ramakanth adjusted the firm's price target on MediWound (MDWD) to $23 from $5.50 and keeps a Buy rating on the shares to account for the reverse split of 1 for 7 shares that became effective on December 20 and the approval of NexoBrid by the FDA on December 29. While awaiting pricing details from Vericel (VCEL) management, Ramakanth currently assumes initial revenue of $6,500 per patient per burn treatment and assumes "meaningful" NexoBrid revenues to start from Q3 of 2023, the analyst noted.

H.C. Wainwright analyst Swayampakula Ramakanth raised the firm's price target on Vericel to $37 from $35 and keeps a Buy rating on the shares following the FDA approval of NexoBrid. The drug received a wider label than expected as it can be applied up to two applications with an initial application that can cover an area of up to 15% of body surface area and a second application within 24 hours to cover an area of up to 20% of body surface area, Ramakanth tells investors in a research note. Based on the collaboration agreement with MediWound, Vericel is expected to pay a milestone payment of $7.5M in Q1, the analyst adds.

Cowen analyst Joshua Jennings raised the firm's price target on MediWound (MDWD) to $25 from $6 and keeps an Outperform rating on the shares after the FDA approved NexoBrid and triggered a $7.5M milestone from Vericel (VCEL). MediWound will benefit from high-single digit royalties on U.S. Nexobrid sales, also recently announced regulatory approvals in India and Japan and should secure EMA pediatric labeling in Q1, Jennings tells investors.