AVITA Medical’s (RCEL) Buy Rating Reaffirmed at D. Boral Capital

AVITA Medical (NASDAQ:RCEL)‘s stock had its “buy” rating reissued by equities research analysts at D. Boral Capital in a research note issued on Tuesday,Benzinga reports. They presently have a $22.00 price objective on the stock. D. Boral Capital’s price target would suggest a potential upside of 143.63% from the company’s previous close.

RCEL has been the subject of several other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $21.00 target price on shares of AVITA Medical in a research note on Tuesday, December 24th. Lake Street Capital reduced their target price 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. According to MarketBeat.com, AVITA Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.25.

AVITA Medical Stock Up 5.6 %

RCEL stock opened at $9.03 on Tuesday. The stock has a 50-day simple moving average of $9.16 and a two-hundred day simple moving average of $10.63. AVITA Medical has a twelve month low of $7.51 and a twelve month high of $16.79. The firm has a market capitalization of $236.75 million, a PE ratio of -3.78 and a beta of 1.57. The company has a quick ratio of 2.47, a current ratio of 2.83 and a debt-to-equity ratio of 9.39.

AVITA Medical (NASDAQ:RCEL) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.14). The firm had revenue of $18.41 million during the quarter, compared to the consensus estimate of $18.40 million. AVITA Medical had a negative net margin of 96.26% and a negative return on equity of 337.91%. On average, equities analysts predict that AVITA Medical will post -0.95 EPS for the current fiscal year.

Insider Activity at AVITA Medical

In other AVITA Medical news, Director Robert Mcnamara bought 10,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was acquired at an average price of $10.09 per share, with a total value of $100,900.00. Following the completion of the purchase, the director now owns 45,749 shares of the company’s stock, valued at approximately $461,607.41. This trade represents a 27.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Delta Investment Management LLC increased its holdings in shares of AVITA Medical by 263.7% during the fourth quarter. Delta Investment Management LLC now owns 52,470 shares of the company’s stock valued at $672,000 after acquiring an additional 38,042 shares in the last quarter. Millennium Management LLC bought a new stake in AVITA Medical during the 4th quarter valued at about $426,000. Deutsche Bank AG raised its holdings in AVITA Medical by 78.9% in the fourth quarter. Deutsche Bank AG now owns 22,821 shares of the company’s stock worth $292,000 after buying an additional 10,063 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of AVITA Medical by 16.2% in the fourth quarter. Bank of America Corp DE now owns 38,121 shares of the company’s stock worth $488,000 after buying an additional 5,324 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of AVITA Medical during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 27.66% of the company’s stock.

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.