Avita Medical Inc. (NASDAQ:RCEL) Stock Has Consensus Price Target of $12.20 According to Brokerages

Avita Medical Inc. (NASDAQ:RCEL) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $12.20.

Several research firms have recently weighed in on RCEL. BTIG Research increased their price objective on shares of Avita Medical from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Wall Street Zen raised shares of Avita Medical from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of Avita Medical in a report on Monday, September 21st. Lake Street Capital boosted their target price on shares of Avita Medical from $8.00 to $12.00 and gave the company a “buy” rating in a report on Friday, August 28th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Avita Medical in a research report on Tuesday.

Avita Medical Stock Performance

NASDAQ:RCEL opened at $16.32 on Monday. The company has a market capitalization of $502.33 million, a PE ratio of -11.33 and a beta of 2.03. The company has a 50 day simple moving average of $12.54 and a two-hundred day simple moving average of $6.73. Avita Medical has a fifty-two week low of $3.22 and a fifty-two week high of $16.90.

Avita Medical (NASDAQ:RCEL) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.04. The firm had revenue of $21.70 million for the quarter, compared to the consensus estimate of $20.25 million. Research analysts predict that Avita Medical will post -0.98 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. increased its holdings in Avita Medical by 28.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 16,000 shares of the company’s stock worth $191,000 after purchasing an additional 3,500 shares in the last quarter. Harpswell Capital Advisors LLC acquired a new position in Avita Medical in the third quarter valued at approximately $150,000. R Squared Ltd acquired a new position in Avita Medical in the first quarter valued at approximately $57,000. Abel Hall LLC bought a new position in shares of Avita Medical during the 1st quarter worth approximately $62,000. Finally, Quantinno Capital Management LP bought a new position in shares of Avita Medical during the 1st quarter worth approximately $83,000. 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 developing and commercializing therapies that use a patient’s own cells to help restore damaged skin and tissue. Its lead product is the RECELL System, an autologous cell-harvesting device designed to prepare a suspension of a patient’s skin cells at the point of care for application to wounds.

RECELL is used in the treatment of certain thermal burn wounds and other skin injuries. The system is intended to support wound healing and may reduce the amount of donor skin required for grafting by enabling clinicians to create a cell suspension from a small sample of the patient’s healthy skin.