Avita Medical Inc. (NASDAQ:RCEL) Stock Rated “Moderate Buy” by Wall Street Analysts

Avita Medical Inc. (NASDAQ:RCEL – Get Free Report) has earned an average rating of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $12.20.

RCEL has been the topic of several research reports. Lake Street Capital boosted their price objective on shares of Avita Medical from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Wall Street Zen upgraded shares of Avita Medical from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd. TD Cowen raised their price target on shares of Avita Medical from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. BTIG Research lifted their target price on Avita Medical from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Monday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Avita Medical in a research report on Monday, September 21st.

Check Out Our Latest Research Report on Avita Medical

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harpswell Capital Advisors LLC purchased a new stake in Avita Medical during the 3rd quarter valued at $150,000. Aristides Capital LLC bought a new position in shares of Avita Medical in the 4th quarter worth approximately $48,000. R Squared Ltd bought a new stake in Avita Medical during the first quarter valued at approximately $57,000. Abel Hall LLC purchased a new stake in Avita Medical during the first quarter valued at approximately $62,000. Finally, Quantinno Capital Management LP purchased a new position in shares of Avita Medical during the 1st quarter worth $83,000. Institutional investors own 27.66% of the company’s stock.

Avita Medical Price Performance

RCEL opened at $13.10 on Thursday. The firm has a market capitalization of $403.18 million, a price-to-earnings ratio of -9.10 and a beta of 1.99. Avita Medical has a one year low of $3.22 and a one year high of $13.73. The business has a 50 day simple moving average of $10.65 and a two-hundred day simple moving average of $6.59.

Avita Medical (NASDAQ:RCEL – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.04. The company had revenue of $21.70 million during the quarter, compared to analysts’ expectations of $20.25 million. As a group, sell-side analysts expect that Avita Medical will post -0.98 EPS for the current fiscal year.

About Avita Medical

(Get Free Report)

Avita Medical is a regenerative medicine company focused on developing and commercializing technologies that use a patient’s own cells to support skin repair and healing. The company’s platform is designed to create a suspension of regenerative cells from a small sample of healthy skin, which can then be applied to damaged areas.

Its primary product is the RECELL Autologous Cell Harvesting Device, a point-of-care system that prepares a patient’s skin cells for use in treating thermal burn wounds.

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Analyst Recommendations for Avita Medical (NASDAQ:RCEL)

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