Avita Medical (NASDAQ:RCEL) Given “Buy” Rating at D. Boral Capital

Avita Medical (NASDAQ:RCEL)‘s stock had its “buy” rating reissued by research analysts at D. Boral Capital in a research note issued on Monday,Benzinga reports. They presently have a $10.00 price target on the stock. D. Boral Capital’s target price would suggest a potential upside of 125.23% from the company’s previous close.

RCEL has been the topic of several other research reports. Zacks Research upgraded Avita Medical from a “strong sell” rating to a “hold” rating in a report on Friday, December 19th. BTIG Research upgraded shares of Avita Medical from a “sell” rating to a “neutral” rating in a report on Thursday, November 20th. Lake Street Capital lifted their price target on shares of Avita Medical from $3.00 to $3.50 and gave the company a “hold” rating in a research note on Friday, January 16th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Avita Medical in a 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. According to data from MarketBeat.com, Avita Medical currently has an average rating of “Hold” and an average price target of $5.50.

Avita Medical Price Performance

Avita Medical stock opened at $4.44 on Monday. The firm has a market capitalization of $135.38 million, a price-to-earnings ratio of -2.45 and a beta of 1.70. The company’s 50 day simple moving average is $3.60 and its 200 day simple moving average is $4.44. Avita Medical has a fifty-two week low of $3.22 and a fifty-two week high of $11.25.

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

Hedge Funds Weigh In On Avita Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group increased its holdings in Avita Medical by 48,965.5% in the third quarter. Brooklyn Investment Group now owns 58,388 shares of the company’s stock worth $298,000 after purchasing an additional 58,269 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Avita Medical by 8.8% in the second quarter. Rhumbline Advisers now owns 42,168 shares of the company’s stock valued at $223,000 after buying an additional 3,393 shares in the last quarter. Bridgeway Capital Management LLC acquired a new position in Avita Medical during the 2nd quarter valued at about $199,000. Gabelli Funds LLC purchased a new position in shares of Avita Medical during the second quarter valued at approximately $185,000. Finally, XTX Topco Ltd bought a new stake in shares of Avita Medical in the 2nd quarter worth $153,000. 27.66% of the stock is owned by institutional investors.

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.