D. Boral Capital Reiterates Buy Rating for AVITA Medical (NASDAQ:RCEL)

AVITA Medical (NASDAQ:RCEL)‘s stock had its “buy” rating reiterated by stock analysts at D. Boral Capital in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $25.00 price objective on the stock. D. Boral Capital’s price target indicates a potential upside of 179.64% from the company’s current price.

Several other research firms have also recently issued reports on RCEL. Piper Sandler reaffirmed a “neutral” rating and set a $12.00 price objective (up from $9.00) on shares of AVITA Medical in a research report on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $21.00 price objective on shares of AVITA Medical in a research report on Tuesday, December 24th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, AVITA Medical presently has an average rating of “Moderate Buy” and an average target price of $18.00.

AVITA Medical Stock Down 36.4 %

AVITA Medical stock opened at $8.94 on Wednesday. The firm has a market capitalization of $234.39 million, a P/E ratio of -4.01 and a beta of 1.58. The company has a current ratio of 3.73, a quick ratio of 3.37 and a debt-to-equity ratio of 3.48. AVITA Medical has a twelve month low of $7.51 and a twelve month high of $18.93. The stock’s fifty day simple moving average is $12.51 and its 200-day simple moving average is $10.58.

AVITA Medical (NASDAQ:RCEL) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $19.55 million for the quarter, compared to analysts’ expectations of $19.65 million. During the same quarter last year, the company earned ($0.34) EPS. As a group, equities analysts expect that AVITA Medical will post -2.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AVITA Medical

Large investors have recently bought and sold shares of the stock. FMR LLC boosted its position in shares of AVITA Medical by 126.9% in the 3rd quarter. FMR LLC now owns 4,248 shares of the company’s stock valued at $46,000 after purchasing an additional 2,376 shares during the period. Huntington National Bank purchased a new stake in AVITA Medical in the third quarter valued at approximately $32,000. Rhumbline Advisers boosted its holdings in shares of AVITA Medical by 13.9% in the second quarter. Rhumbline Advisers now owns 36,530 shares of the company’s stock valued at $289,000 after acquiring an additional 4,463 shares during the period. Quest Partners LLC increased its holdings in shares of AVITA Medical by 269.4% in the 3rd 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. Finally, IHT Wealth Management LLC raised its position in AVITA Medical by 24.3% in the 3rd quarter. IHT Wealth Management LLC now owns 28,100 shares of the company’s stock valued at $301,000 after purchasing an additional 5,500 shares during the last quarter. Institutional investors and hedge funds own 27.66% of the company’s stock.

AVITA Medical Company Profile

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.