Avita Medical’s (RCEL) Buy Rating Reiterated at D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of Avita Medical (NASDAQ:RCEL) in a research note issued to investors on Monday,Benzinga reports. The firm currently has a $10.00 price target on the stock.

Other analysts have also issued research reports about the stock. BTIG Research upgraded shares of Avita Medical from a “sell” rating to a “neutral” rating in a research note on Thursday, November 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Avita Medical in a report on Monday, December 29th. Lake Street Capital increased their price objective 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, Zacks Research raised shares of Avita Medical from a “strong sell” rating to a “hold” rating in a research report on Friday, December 19th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.50.

Avita Medical Stock Performance

RCEL stock opened at $4.44 on Monday. The business has a 50-day simple moving average of $3.64 and a two-hundred day simple moving average of $4.42. The company has a market capitalization of $135.38 million, a P/E ratio of -2.45 and a beta of 1.70. Avita Medical has a 52-week low of $3.22 and a 52-week high of $11.25.

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

Institutional Investors Weigh In On Avita Medical

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers lifted its stake in 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 purchasing an additional 3,393 shares during the last quarter. Farther Finance Advisors LLC bought a new stake in shares of Avita Medical in the third quarter valued at $32,000. Jane Street Group LLC lifted its position in shares of Avita Medical by 20.4% during the 1st quarter. Jane Street Group LLC now owns 63,744 shares of the company’s stock valued at $519,000 after buying an additional 10,789 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Avita Medical during the 2nd quarter worth $58,000. Finally, Strs Ohio purchased a new stake in Avita Medical in the 1st quarter worth about $116,000. Institutional investors own 27.66% of the company’s stock.

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.