Avita Medical Inc. (NASDAQ:RCEL) Given Consensus Recommendation of “Hold” by Analysts

Avita Medical Inc. (NASDAQ:RCEL) has earned a consensus rating of “Hold” from the five research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $5.50.

Several analysts have recently commented on RCEL shares. D. Boral Capital restated a “buy” rating and set a $10.00 price objective on shares of Avita Medical in a research report on Monday, January 26th. Zacks Research upgraded Avita Medical from a “strong sell” rating to a “hold” rating in a research note on Friday, December 19th. Lake Street Capital boosted their price objective on Avita Medical from $3.00 to $3.50 and gave the company a “hold” rating in a research report on Friday, January 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Avita Medical in a research note on Monday, December 29th. Finally, BTIG Research raised Avita Medical from a “sell” rating to a “neutral” rating in a research note on Thursday, November 20th.

Hedge Funds Weigh In On Avita Medical

Several hedge funds have recently modified their holdings of RCEL. Farther Finance Advisors LLC purchased a new position in Avita Medical during the third quarter valued at $32,000. The Manufacturers Life Insurance Company bought a new position in shares of Avita Medical during the 2nd quarter valued at about $58,000. PharVision Advisers LLC purchased a new position in shares of Avita Medical during the second quarter valued at about $87,000. Curi Capital LLC bought a new stake in shares of Avita Medical in the second quarter worth about $100,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of Avita Medical in the second quarter worth about $106,000. Hedge funds and other institutional investors own 27.66% of the company’s stock.

Avita Medical Trading Up 1.1%

Shares of NASDAQ:RCEL opened at $4.41 on Friday. The stock has a 50 day moving average of $3.66 and a 200 day moving average of $4.41. The company has a market cap of $134.46 million, a PE ratio of -2.44 and a beta of 1.70. Avita Medical has a 12-month low of $3.22 and a 12-month high of $11.25.

Avita Medical (NASDAQ:RCEL) last released its earnings results on Thursday, November 6th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.03). The business had revenue of $17.06 million for the quarter, compared to the consensus estimate of $29.39 million. Equities research analysts predict that Avita Medical will post -0.95 earnings per share for the current fiscal year.

About Avita Medical

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.