20 Best Biotech Stocks Under $20 to Buy Now

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11. MiMedx Group, Inc. (NASDAQ:MDXG)

Number of Hedge Fund Holders: 28

Stock Price: $5.15

MiMedx Group, Inc. (NASDAQ:MDXG) is next on our list of best biotech stocks.

TheFly reported on January 23 that Craig-Hallum analyst Chase Knickerbocker lowered the price target on MDXG to $10 from $13 and maintained a Buy rating. The revision followed recent CMS guidance on provider billing and the withdrawal of the local coverage determination, which the firm expects to create provider confusion and pressure wound care volumes in the first quarter of 2026. Craig-Hallum consequently lowered its near-term volume expectations and extended expected share gains over a longer time frame, anticipating sequential Q1 growth in the single-digit range.

Similarly, on January 20, Northland Securities also lowered its price target on MiMedx Group, Inc. (NASDAQ:MDXG) to $10 from $12 and maintained an Outperform rating. Although the firm still anticipates longer-term market share gains in wound care and consistent double-digit growth in the surgical recovery segment, the adjustment represented changes to Northland’s FY2026 and FY2027 forecasts to account for near-term uncertainty associated with CMS’s flat-rate coverage for skin substitutes.

MiMedx Group, Inc. (NASDAQ:MDXG) is a U.S. biomedical company that develops and distributes advanced placental tissue allografts for wound care, surgical, and burn applications. It’s products, using proprietary processing methods, help clinicians treat chronic and hard-to-heal wounds.

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