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

AVITA Medical (NASDAQ:RCEL - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at D. Boral Capital in a note issued to investors on Friday,Benzinga reports. They currently have a $25.00 price target on the stock. D. Boral Capital's price objective points to a potential upside of 141.78% from the company's current price.

A number of other analysts have also issued reports on the stock. Piper Sandler reiterated a "neutral" rating and set a $12.00 price target (up from $9.00) on shares of AVITA Medical in a research note on Friday, November 8th. Cantor Fitzgerald reissued an "overweight" rating and set a $21.00 price objective on shares of AVITA Medical in a research report on Tuesday, December 24th. Finally, Lake Street Capital lowered their price objective on AVITA Medical from $20.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

AVITA Medical Trading Down 2.2 %

NASDAQ:RCEL traded down $0.23 on Friday, reaching $10.34. 321,286 shares of the company's stock were exchanged, compared to its average volume of 239,561. The company has a quick ratio of 3.37, a current ratio of 3.73 and a debt-to-equity ratio of 3.48. The firm has a market capitalization of $271.11 million, a price-to-earnings ratio of -4.64 and a beta of 1.55. The business has a fifty day moving average of $10.57 and a 200-day moving average of $10.63. AVITA Medical has a 52-week low of $7.51 and a 52-week high of $18.93.

AVITA Medical (NASDAQ:RCEL - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.14). The business had revenue of $18.41 million for the quarter, compared to analysts' expectations of $18.40 million. AVITA Medical had a negative return on equity of 194.69% and a negative net margin of 95.47%. As a group, analysts expect that AVITA Medical will post -2.38 earnings per share for the current year.

Hedge Funds Weigh In On AVITA Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCEL. Huntington National Bank acquired a new position in AVITA Medical in the third quarter valued at approximately $32,000. BNP Paribas Financial Markets acquired a new position in AVITA Medical in the fourth quarter valued at approximately $38,000. FMR LLC boosted its holdings in AVITA Medical by 126.9% in the third quarter. FMR LLC now owns 4,248 shares of the company's stock valued at $46,000 after purchasing an additional 2,376 shares in the last quarter. Quest Partners LLC boosted its holdings in AVITA Medical by 269.4% in the third quarter. Quest Partners LLC now owns 7,520 shares of the company's stock valued at $81,000 after purchasing an additional 5,484 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in AVITA Medical in the second quarter valued at approximately $86,000. 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.