AVITA Medical (NASDAQ:RCEL) Earns Overweight Rating from Cantor Fitzgerald

AVITA Medical (NASDAQ:RCEL)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a note issued to investors on Tuesday,Benzinga reports. They presently have a $21.00 target price on the stock. Cantor Fitzgerald’s target price points to a potential upside of 62.66% from the company’s current price.

A number of other research analysts have also recently commented on RCEL. D. Boral Capital started coverage on AVITA Medical in a research report on Tuesday. They set a “buy” rating and a $25.00 price target on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $12.00 price objective (up from $9.00) on shares of AVITA Medical in a report on Friday, November 8th.

AVITA Medical Trading Up 9.9 %

NASDAQ RCEL opened at $12.91 on Tuesday. The business’s fifty day moving average is $12.05 and its 200-day moving average is $10.29. The company has a debt-to-equity ratio of 3.48, a current ratio of 3.73 and a quick ratio of 3.37. The stock 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 one year low of $7.51 and a one year high of $18.93.

AVITA Medical (NASDAQ:RCEL) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.62) EPS 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 during the quarter, compared to the consensus estimate of $19.65 million. During the same period in the prior year, the firm posted ($0.34) EPS. Equities research analysts predict that AVITA Medical will post -2.35 EPS for the current year.

Institutional Investors Weigh In On AVITA Medical

Institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers raised its stake in shares of AVITA Medical by 13.9% during the 2nd quarter. Rhumbline Advisers now owns 36,530 shares of the company’s stock valued at $289,000 after purchasing an additional 4,463 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of AVITA Medical during the second quarter valued at about $86,000. Essex Investment Management Co. LLC bought a new stake in shares of AVITA Medical during the third quarter valued at about $2,477,000. Huntington National Bank purchased a new stake in shares of AVITA Medical in the third quarter worth about $32,000. Finally, Quest Partners LLC boosted its position in shares of 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 acquiring an additional 5,484 shares during the period. Hedge funds and other institutional investors 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.