AVITA Medical (NASDAQ:RCEL) Announces Earnings Results

AVITA Medical (NASDAQ:RCEL) released its earnings results on Thursday. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.14), Zacks reports. AVITA Medical had a negative return on equity of 194.69% and a negative net margin of 95.47%.

AVITA Medical Trading Up 2.0 %

NASDAQ:RCEL traded up $0.17 during trading hours on Thursday, hitting $8.78. 219,912 shares of the stock were exchanged, compared to its average volume of 211,697. The company has a market capitalization of $230.21 million, a P/E ratio of -3.94 and a beta of 1.55. The company has a quick ratio of 3.37, a current ratio of 3.73 and a debt-to-equity ratio of 3.48. The company’s 50 day moving average is $10.81 and its two-hundred day moving average is $10.60. AVITA Medical has a twelve month low of $7.51 and a twelve month high of $18.93.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Piper Sandler reiterated a “neutral” rating and issued a $12.00 price objective (up previously from $9.00) on shares of AVITA Medical in a research note on Friday, November 8th. D. Boral Capital reaffirmed a “buy” rating and set a $25.00 price objective on shares of AVITA Medical in a report on Wednesday, January 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $21.00 price target on shares of AVITA Medical in a research report on Tuesday, December 24th. Finally, Lake Street Capital dropped their price objective on shares of AVITA Medical from $20.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.00.

AVITA Medical Company Profile

AVITA Medical, Inc, together with its subsidiaries, operates as a regenerative medicine company in the United States and internationally. The company's lead product is the RECELL System, a cell harvesting device used for the treatment of thermal burn wounds, full-thickness skin defects, and repigmentation of stable depigmented vitiligo lesions.