Avita Medical (NASDAQ:RCEL) Given New $18.00 Price Target at D. Boral Capital

Key Points

• Avita Medical's stock price target was revised down by D. Boral Capital from $19.00 to $18.00, indicating a potential upside of 234.57% from its last closing price.
• BTIG Research has downgraded Avita Medical's rating from "neutral" to "sell"**
• The company reported a loss of ($0.38) EPS for its last quarter, falling short of expectations, and is projected to have a negative net margin of **79.61%**.

Avita Medical (NASDAQ:RCEL - Get Free Report) had its target price dropped by equities research analysts at D. Boral Capital from $19.00 to $18.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. D. Boral Capital's target price would suggest a potential upside of 234.57% from the company's previous close.

Separately, BTIG Research lowered shares of Avita Medical from a "neutral" rating to a "sell" rating and set a $3.00 price objective for the company. in a research report on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $13.60.

Avita Medical Trading Up 0.4%

Shares of RCEL stock opened at $5.38 on Friday. The stock has a market capitalization of $142.19 million, a price-to-earnings ratio of -2.46 and a beta of 1.63. The company's fifty day simple moving average is $5.53 and its two-hundred day simple moving average is $7.57. Avita Medical has a 1 year low of $4.71 and a 1 year high of $14.16. The company has a debt-to-equity ratio of 9.39, a current ratio of 2.09 and a quick ratio of 1.72.

Avita Medical (NASDAQ:RCEL - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.12). Avita Medical had a negative net margin of 79.61% and a negative return on equity of 632.62%. The company had revenue of $18.42 million for the quarter, compared to the consensus estimate of $34.27 million. As a group, analysts anticipate that Avita Medical will post -0.95 earnings per share for the current year.

Hedge Funds Weigh In On Avita Medical

A number of institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new stake in shares of Avita Medical during the 4th quarter valued at about $38,000. CWM LLC lifted its position in Avita Medical by 1,099.5% during the first quarter. CWM LLC now owns 4,918 shares of the company's stock valued at $40,000 after purchasing an additional 4,508 shares during the last quarter. GAMMA Investing LLC grew its stake in Avita Medical by 688.9% in the 1st quarter. GAMMA Investing LLC now owns 6,374 shares of the company's stock worth $52,000 after buying an additional 5,566 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Avita Medical in the 1st quarter worth $53,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Avita Medical by 48.0% in the 4th quarter. Russell Investments Group Ltd. now owns 7,164 shares of the company's stock worth $92,000 after buying an additional 2,324 shares during the last quarter. 27.66% of the stock is currently owned by institutional investors.

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.

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