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

D. Boral Capital reiterated their buy rating on shares of Avita Medical (NASDAQ:RCEL) in a report issued on Monday morning,Benzinga reports. D. Boral Capital currently has a $10.00 price objective on the stock.

Other analysts have also issued research reports about the company. BTIG Research raised Avita Medical from a “sell” rating to a “neutral” rating in a report on Thursday, November 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Avita Medical in a research note on Monday, December 29th. Lake Street Capital lifted their target price on shares of Avita Medical from $3.00 to $3.50 and gave the stock a “hold” rating in a research report on Friday, January 16th. Finally, Zacks Research upgraded shares of Avita Medical from a “strong sell” rating to a “hold” rating in a research report on Friday, December 19th. One investment 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 MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.50.

Avita Medical Trading Up 2.0%

RCEL stock opened at $4.53 on Monday. The company’s 50-day moving average price is $3.61 and its 200 day moving average price is $4.43. Avita Medical has a 52 week low of $3.22 and a 52 week high of $11.25. The company has a market cap of $138.12 million, a P/E ratio of -2.50 and a beta of 1.70.

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

Hedge Funds Weigh In On Avita Medical

Institutional investors and hedge funds have recently modified their holdings of the company. Divisadero Street Capital Management LP acquired a new stake in shares of Avita Medical in the third quarter worth approximately $511,000. Brooklyn Investment Group boosted its holdings in shares of Avita Medical by 48,965.5% in the 3rd quarter. Brooklyn Investment Group now owns 58,388 shares of the company’s stock valued at $298,000 after purchasing an additional 58,269 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Avita Medical by 213.8% in the 3rd quarter. Bridgeway Capital Management LLC now owns 118,004 shares of the company’s stock valued at $603,000 after purchasing an additional 80,404 shares during the last quarter. Strs Ohio grew its stake in shares of Avita Medical by 233.6% during the 3rd quarter. Strs Ohio now owns 47,700 shares of the company’s stock valued at $244,000 after buying an additional 33,400 shares during the period. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Avita Medical during the 3rd quarter worth $32,000. Hedge funds and other institutional investors 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.