AVITA Medical (NASDAQ:RCEL) Given Buy Rating at D. Boral Capital

AVITA Medical (NASDAQ:RCEL)‘s stock had its “buy” rating restated by stock analysts at D. Boral Capital in a research report issued on Friday,Benzinga reports. They currently have a $22.00 target price on the stock. D. Boral Capital’s target price would suggest a potential upside of 193.33% from the company’s current price.

Other analysts have also issued reports about the company. Lake Street Capital lowered their target price on AVITA Medical from $20.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $21.00 price objective on shares of AVITA Medical in a research report on Tuesday, December 24th. Two 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, AVITA Medical has a consensus rating of “Moderate Buy” and a consensus price target of $17.25.

AVITA Medical Trading Down 0.1 %

Shares of RCEL stock opened at $7.50 on Friday. The company has a market capitalization of $196.64 million, a P/E ratio of -3.14 and a beta of 1.60. AVITA Medical has a 12-month low of $6.90 and a 12-month high of $15.50. The company has a quick ratio of 2.47, a current ratio of 2.83 and a debt-to-equity ratio of 9.39. The firm has a 50-day moving average price of $9.02 and a 200 day moving average price of $10.55.

AVITA Medical (NASDAQ:RCEL) last posted its earnings results on Thursday, February 13th. The company reported ($0.44) earnings per share (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%. Research analysts forecast that AVITA Medical will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at AVITA Medical

In related news, Director Robert Mcnamara acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average price of $10.09 per share, for a total transaction of $100,900.00. Following the completion of the acquisition, the director now owns 45,749 shares of the company’s stock, valued at $461,607.41. This trade represents a 27.97 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.82% of the company’s stock.

Hedge Funds Weigh In On AVITA Medical

Several institutional investors have recently modified their holdings of the stock. Delta Investment Management LLC increased its stake in AVITA Medical by 263.7% in the fourth quarter. Delta Investment Management LLC now owns 52,470 shares of the company’s stock valued at $672,000 after purchasing an additional 38,042 shares in the last quarter. Millennium Management LLC acquired a new position in shares of AVITA Medical in the 4th quarter valued at $426,000. Deutsche Bank AG increased its position in shares of AVITA Medical by 78.9% in the 4th quarter. Deutsche Bank AG now owns 22,821 shares of the company’s stock valued at $292,000 after buying an additional 10,063 shares in the last quarter. Bank of America Corp DE raised its stake in AVITA Medical by 16.2% during the 4th 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 during the period. Finally, BNP Paribas Financial Markets bought a new position in AVITA Medical during the fourth quarter worth about $38,000. 27.66% of the stock is currently owned by institutional investors and hedge funds.

About AVITA Medical

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.