Avita Medical (NASDAQ:RCEL) Earns Buy Rating from D. Boral Capital

Avita Medical (NASDAQ:RCEL)‘s stock had its “buy” rating reaffirmed by D. Boral Capital in a research note issued to investors on Monday,Benzinga reports. They presently have a $10.00 price objective on the stock. D. Boral Capital’s target price would suggest a potential upside of 118.82% from the stock’s current price.

RCEL has been the subject of a number of other reports. Lake Street Capital boosted their price target on Avita Medical from $3.00 to $3.50 and gave the company a “hold” rating in a research note on Friday, January 16th. BTIG Research raised shares of Avita Medical from a “sell” rating to a “neutral” rating in a research note on Thursday, November 20th. Zacks Research upgraded Avita Medical from a “strong sell” rating to a “hold” rating in a report on Friday, December 19th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Avita Medical in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Avita Medical currently has an average rating of “Hold” and a consensus target price of $5.50.

Avita Medical Trading Up 0.9%

Shares of RCEL opened at $4.57 on Monday. Avita Medical has a 12 month low of $3.22 and a 12 month high of $11.25. The company has a market capitalization of $139.34 million, a price-to-earnings ratio of -2.52 and a beta of 1.70. The stock has a 50 day moving average of $3.63 and a 200 day moving average of $4.42.

Avita Medical (NASDAQ:RCEL) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.03). The business had revenue of $17.06 million during the quarter, compared to analyst estimates of $29.39 million. As a group, equities research analysts predict that Avita Medical will post -0.95 earnings per share for the current year.

Institutional Trading of Avita Medical

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC acquired a new stake in Avita Medical during the third quarter valued at $32,000. The Manufacturers Life Insurance Company purchased a new position in Avita Medical in the 2nd quarter worth approximately $58,000. Strs Ohio purchased a new position in Avita Medical during the first quarter worth approximately $116,000. PharVision Advisers LLC purchased a new position in shares of Avita Medical during the 2nd quarter worth $87,000. Finally, Curi Capital LLC acquired a new position in Avita Medical in the 2nd quarter valued at about $100,000. Institutional investors and hedge funds own 27.66% of the company’s stock.

Avita Medical Company Profile

Avita Medical, Inc (NASDAQ: RCEL) is a regenerative medicine company focused on the development and commercialization of cell‐based therapies for acute and chronic wounds. Its flagship technology, the ReCell® Autologous Cell Harvesting Device, enables clinicians to create a suspension of a patient’s own skin cells at the point of care. The system is designed to accelerate wound healing, minimize donor‐site requirements and reduce scarring for patients suffering from burns, traumatic wounds and a variety of surgical and reconstructive procedures.

Founded in 2009 and headquartered in Carlsbad, California, Avita Medical has secured regulatory clearances in key markets, including CE mark approval in the European Union and 510(k) clearance from the U.S.