AVITA Medical (NASDAQ:RCEL) Now Covered by D. Boral Capital

D. Boral Capital assumed coverage on shares of AVITA Medical (NASDAQ:RCEL) in a report released on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $25.00 price target on the stock. D. Boral Capital’s price objective indicates a potential upside of 93.65% from the stock’s current price.

Separately, Piper Sandler reiterated a “neutral” rating and set a $12.00 price objective (up previously from $9.00) on shares of AVITA Medical in a research report on Friday, November 8th.

AVITA Medical Trading Up 9.9 %

Shares of AVITA Medical stock opened at $12.91 on Tuesday. The company has a debt-to-equity ratio of 3.48, a quick ratio of 3.37 and a current ratio of 3.73. The company has a fifty day moving average of $12.05 and a 200 day moving average of $10.29. The company has a market capitalization of $338.47 million, a P/E ratio of -5.79 and a beta of 1.60. AVITA Medical has a fifty-two week low of $7.51 and a fifty-two week high of $18.93.

AVITA Medical (NASDAQ:RCEL) last released its earnings results on Thursday, November 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.21). The business had revenue of $19.55 million for the quarter, compared to analysts’ expectations of $19.65 million. AVITA Medical had a negative return on equity of 194.69% and a negative net margin of 95.47%. During the same quarter in the prior year, the business posted ($0.34) EPS. On average, sell-side analysts anticipate that AVITA Medical will post -2.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AVITA Medical

A number of hedge funds have recently made changes to their positions in the company. Rhumbline Advisers grew its holdings in AVITA Medical by 13.9% during the 2nd quarter. Rhumbline Advisers now owns 36,530 shares of the company’s stock valued at $289,000 after buying an additional 4,463 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of AVITA Medical during the 2nd quarter valued at approximately $86,000. Essex Investment Management Co. LLC purchased a new position in shares of AVITA Medical in the third quarter valued at $2,477,000. Huntington National Bank bought a new stake in AVITA Medical in the third quarter worth $32,000. Finally, Quest Partners LLC raised its stake in AVITA Medical by 269.4% during the third quarter. Quest Partners LLC now owns 7,520 shares of the company’s stock valued at $81,000 after purchasing an additional 5,484 shares in the last quarter. 27.66% of the stock is currently owned by hedge funds and other institutional investors.

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.