AVITA Medical (NASDAQ:RCEL) Now Covered by Analysts at D. Boral Capital

D. Boral Capital started coverage on shares of AVITA Medical (NASDAQ:RCEL) in a report released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $25.00 price objective on the stock.

Separately, Piper Sandler reissued a “neutral” rating and issued a $12.00 price target (up from $9.00) on shares of AVITA Medical in a report on Friday, November 8th.

AVITA Medical Stock Up 9.9 %

RCEL stock opened at $12.91 on Tuesday. The firm’s 50-day moving average is $12.00 and its two-hundred day moving average is $10.27. The company has a current ratio of 3.73, a quick ratio of 3.37 and a debt-to-equity ratio of 3.48. The company has a market capitalization of $338.47 million, a price-to-earnings ratio of -5.79 and a beta of 1.60. AVITA Medical has a 52 week low of $7.51 and a 52 week high of $18.93.

AVITA Medical (NASDAQ:RCEL) last released its earnings results on Thursday, November 7th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.21). AVITA Medical had a negative return on equity of 194.69% and a negative net margin of 95.47%. The firm had revenue of $19.55 million during the quarter, compared to analyst estimates of $19.65 million. During the same quarter last year, the company earned ($0.34) earnings per share. On average, analysts forecast that AVITA Medical will post -2.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AVITA Medical

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Essex Investment Management Co. LLC purchased a new position in AVITA Medical in the 3rd quarter worth about $2,477,000. The Manufacturers Life Insurance Company purchased a new position in shares of AVITA Medical in the second quarter worth approximately $86,000. Quest Partners LLC raised its holdings in shares of AVITA Medical by 269.4% during the third quarter. Quest Partners LLC now owns 7,520 shares of the company’s stock valued at $81,000 after acquiring an additional 5,484 shares during the period. Rhumbline Advisers lifted its position in shares of AVITA Medical by 13.9% in the 2nd quarter. Rhumbline Advisers now owns 36,530 shares of the company’s stock valued at $289,000 after acquiring an additional 4,463 shares in the last quarter. Finally, Huntington National Bank purchased a new position in AVITA Medical during the 3rd quarter worth approximately $32,000. 27.66% of the stock is owned by institutional investors and hedge funds.

About AVITA Medical

AVITA Medical, Inc, together with its subsidiaries, operates as a regenerative medicine company in the United States and internationally. The company's lead product is the RECELL System, a cell harvesting device used for the treatment of thermal burn wounds, full-thickness skin defects, and repigmentation of stable depigmented vitiligo lesions.