AVITA Medical’s (RCEL) “Buy” Rating Reaffirmed at D. Boral Capital

D. Boral Capital reiterated their buy rating on shares of AVITA Medical (NASDAQ:RCEL) in a research report sent to investors on Wednesday,Benzinga reports. D. Boral Capital currently has a $25.00 price target on the stock.

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

AVITA Medical Price Performance

Shares of NASDAQ RCEL opened at $8.94 on Wednesday. AVITA Medical has a fifty-two week low of $7.51 and a fifty-two week high of $18.93. The company has a market cap of $234.39 million, a PE ratio of -4.01 and a beta of 1.58. The company has a debt-to-equity ratio of 3.48, a quick ratio of 3.37 and a current ratio of 3.73. The business has a 50-day simple moving average of $12.53 and a two-hundred day simple moving average of $10.59.

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

Institutional Investors Weigh In On AVITA Medical

A number of institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its holdings in AVITA Medical by 13.9% during the second quarter. Rhumbline Advisers now owns 36,530 shares of the company’s stock valued at $289,000 after purchasing an additional 4,463 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in AVITA Medical in the 2nd quarter valued at about $86,000. Essex Investment Management Co. LLC purchased a new position in AVITA Medical in the 3rd quarter valued at about $2,477,000. Huntington National Bank acquired a new stake in AVITA Medical in the 3rd quarter worth about $32,000. Finally, Quest Partners LLC increased its stake in AVITA Medical by 269.4% during the 3rd quarter. Quest Partners LLC now owns 7,520 shares of the company’s stock worth $81,000 after buying an additional 5,484 shares in 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.