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

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

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

AVITA Medical Trading Down 36.4 %

NASDAQ:RCEL opened at $8.94 on Wednesday. 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 stock’s 50 day simple moving average is $12.51 and its 200-day simple moving average is $10.58. AVITA Medical has a 12-month low of $7.51 and a 12-month high of $18.93. The firm has a market cap of $234.39 million, a P/E ratio of -4.01 and a beta of 1.58.

AVITA Medical (NASDAQ:RCEL) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.21). AVITA Medical had a negative net margin of 95.47% and a negative return on equity of 194.69%. The firm had revenue of $19.55 million during the quarter, compared to analyst estimates of $19.65 million. During the same period in the prior year, the firm posted ($0.34) earnings per share. Equities analysts anticipate that AVITA Medical will post -2.35 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCEL. JPMorgan Chase & Co. boosted its stake in shares of AVITA Medical by 38.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,344 shares of the company’s stock worth $347,000 after acquiring an additional 8,985 shares in the last quarter. Barclays PLC raised its holdings in AVITA Medical by 340.0% during the third quarter. Barclays PLC now owns 37,503 shares of the company’s stock worth $402,000 after purchasing an additional 28,979 shares during the last quarter. Geode Capital Management LLC boosted its position in AVITA Medical by 1.4% during the third quarter. Geode Capital Management LLC now owns 594,436 shares of the company’s stock worth $6,373,000 after purchasing an additional 8,361 shares in the last quarter. Jane Street Group LLC grew its holdings in AVITA Medical by 32.7% in the third quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock valued at $958,000 after purchasing an additional 22,032 shares during the last quarter. Finally, State Street Corp increased its position in shares of AVITA Medical by 2.4% in the third quarter. State Street Corp now owns 519,997 shares of the company’s stock valued at $5,574,000 after buying an additional 11,997 shares in the last quarter. 27.66% of the stock is currently owned by institutional investors and hedge funds.

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.