AVITA Medical (NASDAQ:RCEL) Posts Earnings Results, Misses Expectations By $0.14 EPS

AVITA Medical (NASDAQ:RCEL - Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.14), Zacks reports. AVITA Medical had a negative net margin of 95.47% and a negative return on equity of 194.69%. The company had revenue of $18.41 million during the quarter, compared to analyst estimates of $18.40 million.

AVITA Medical Price Performance

NASDAQ:RCEL traded up $1.79 during trading hours on Monday, hitting $10.57. 951,785 shares of the stock were exchanged, compared to its average volume of 172,058. AVITA Medical has a 52-week low of $7.51 and a 52-week high of $18.93. The firm's fifty day moving average price is $10.62 and its 200 day moving average price is $10.61. 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 cap of $277.15 million, a P/E ratio of -4.74 and a beta of 1.55.

Wall Street Analysts Forecast Growth

RCEL has been the subject of several recent analyst reports. Piper Sandler restated a "neutral" rating and issued a $12.00 price target (up previously from $9.00) on shares of AVITA Medical in a research note on Friday, November 8th. D. Boral Capital restated a "buy" rating and issued a $25.00 price target on shares of AVITA Medical in a research note on Friday. Cantor Fitzgerald restated an "overweight" rating and issued a $21.00 price target on shares of AVITA Medical in a research note on Tuesday, December 24th. Finally, Lake Street Capital cut their price target on AVITA Medical from $20.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $18.00.

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.