Avita Medical Inc. (NASDAQ:RCEL) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Avita Medical received a “Moderate Buy” consensus rating from seven analysts, with five buys, one hold and one sell. The average 12-month price target is $11.40.
• Recent analysts raised their targets, including TD Cowen to $14, Lake Street Capital to $12 and BTIG Research to $11, while the stock recently opened at $9.88.
• Avita reported quarterly revenue of $21.7 million, above the $20.25 million consensus estimate, and an adjusted loss of $0.25 per share that was narrower than expected.

Avita Medical Inc. (NASDAQ:RCEL - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $11.40.

Several research analysts recently issued reports on RCEL shares. BTIG Research upped their target price on shares of Avita Medical from $7.00 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, August 19th. Weiss Ratings restated a "sell (e+)" rating on shares of Avita Medical in a research report on Wednesday, June 24th. Lake Street Capital lifted their price target on 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 Avita Medical from a "sell" rating to a "hold" rating in a report on Sunday, August 2nd. Finally, TD Cowen upped their price objective on Avita Medical from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th.

Avita Medical Price Performance

Shares of Avita Medical stock opened at $9.88 on Friday. Avita Medical has a 1 year low of $3.22 and a 1 year high of $11.39. The firm has a market cap of $304.11 million, a PE ratio of -6.86 and a beta of 2.02. The company has a 50 day simple moving average of $7.27 and a two-hundred day simple moving average of $5.39.

Avita Medical (NASDAQ:RCEL - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.25) EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $0.04. The company had revenue of $21.70 million during the quarter, compared to the consensus estimate of $20.25 million. As a group, research analysts anticipate that Avita Medical will post -0.98 earnings per share for the current year.

Institutional Trading of Avita Medical

Several hedge funds and other institutional investors have recently bought and sold shares of RCEL. Deutsche Bank AG grew its position in Avita Medical by 1,351.5% during the fourth quarter. Deutsche Bank AG now owns 7,896 shares of the company's stock valued at $27,000 after acquiring an additional 7,352 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Avita Medical by 122.2% in the 4th quarter. Russell Investments Group Ltd. now owns 8,047 shares of the company's stock worth $28,000 after acquiring an additional 4,425 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Avita Medical in the 2nd quarter valued at $58,000. Aristides Capital LLC purchased a new stake in shares of Avita Medical in the 4th quarter valued at $48,000. Finally, Strs Ohio purchased a new stake in shares of Avita Medical in the 1st quarter valued at $116,000. Hedge funds and other institutional investors own 27.66% of the company's stock.

Avita Medical Company Profile

Avita Medical, Inc NASDAQ: RCEL is a regenerative medicine company focused on the development and commercialization of cell‐based therapies for acute and chronic wounds. Its flagship technology, the ReCell® Autologous Cell Harvesting Device, enables clinicians to create a suspension of a patient's own skin cells at the point of care. The system is designed to accelerate wound healing, minimize donor‐site requirements and reduce scarring for patients suffering from burns, traumatic wounds and a variety of surgical and reconstructive procedures.

Founded in 2009 and headquartered in Carlsbad, California, Avita Medical has secured regulatory clearances in key markets, including CE mark approval in the European Union and 510(k) clearance from the U.S.

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