AVITA Medical (NASDAQ:RCEL) Announces Quarterly Earnings Results

AVITA Medical (NASDAQ:RCEL) posted its quarterly earnings data on Thursday. The company reported ($0.44) 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%.

AVITA Medical Trading Up 2.0 %

Shares of RCEL stock traded up $0.17 during trading hours on Thursday, hitting $8.78. 219,912 shares of the company’s stock traded hands, compared to its average volume of 211,697. The stock has a market cap of $230.21 million, a PE ratio of -3.94 and a beta of 1.55. The company has a quick ratio of 3.37, a current ratio of 3.73 and a debt-to-equity ratio of 3.48. AVITA Medical has a 12 month low of $7.51 and a 12 month high of $18.93. The stock’s 50 day simple moving average is $10.81 and its 200 day simple moving average is $10.60.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RCEL. Cantor Fitzgerald reiterated an “overweight” rating and set a $21.00 price objective on shares of AVITA Medical in a research note on Tuesday, December 24th. D. Boral Capital reaffirmed a “buy” rating and set a $25.00 price target on shares of AVITA Medical in a research report on Wednesday, January 8th. Lake Street Capital dropped their price objective on AVITA Medical from $20.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Piper Sandler reissued a “neutral” rating and set a $12.00 price target (up previously from $9.00) on shares of AVITA Medical in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

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.