Avita Medical Inc. (NASDAQ:RCEL) Receives $6.63 Consensus PT from Analysts

Avita Medical Inc. (NASDAQ:RCEL) has been given a consensus rating of “Hold” by the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $7.25.

Several analysts recently commented on the stock. D. Boral Capital restated a “buy” rating and set a $10.00 price target on shares of Avita Medical in a report on Wednesday, April 8th. Wall Street Zen upgraded shares of Avita Medical from a “strong sell” rating to a “hold” rating in a report on Saturday. Lake Street Capital upgraded shares of Avita Medical from a “hold” rating to a “buy” rating and raised their price target for the stock from $3.50 to $6.00 in a report on Friday. Weiss Ratings restated a “sell (e+)” rating on shares of Avita Medical in a report on Friday, March 27th. Finally, Northland Securities assumed coverage on shares of Avita Medical in a report on Thursday, March 5th. They set an “outperform” rating and a $10.00 price target for the company.

Avita Medical Stock Performance

NASDAQ:RCEL opened at $4.56 on Monday. The firm has a market capitalization of $140.36 million, a price-to-earnings ratio of -2.90 and a beta of 1.90. The business’s fifty day moving average price is $4.38 and its 200 day moving average price is $4.06. Avita Medical has a 1-year low of $3.22 and a 1-year high of $7.12.

Avita Medical (NASDAQ:RCEL) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.35) EPS for the quarter, hitting the consensus estimate of ($0.35). The company had revenue of $19.25 million for the quarter, compared to analyst estimates of $18.30 million. Equities analysts forecast that Avita Medical will post -1.23 earnings per share for the current year.

Institutional Trading of Avita Medical

Several institutional investors have recently made changes to their positions in the stock. Quantinno Capital Management LP acquired a new stake in shares of Avita Medical during the first quarter worth approximately $83,000. R Squared Ltd acquired a new stake in Avita Medical in the first quarter valued at approximately $57,000. Abel Hall LLC acquired a new stake in Avita Medical in the first quarter valued at approximately $62,000. Thompson Davis & CO. Inc. acquired a new stake in Avita Medical in the first quarter valued at approximately $144,000. Finally, Aristides Capital LLC acquired a new stake in Avita Medical in the fourth quarter valued at approximately $48,000. 27.66% of the stock is currently owned by institutional investors and hedge funds.

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.