AVITA Medical (NASDAQ:RCEL) Posts Earnings Results, Misses Estimates By $0.14 EPS

AVITA Medical (NASDAQ:RCEL) issued its earnings results on Thursday. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.14), Zacks reports. AVITA Medical had a negative return on equity of 194.69% and a negative net margin of 95.47%.

AVITA Medical Trading Up 2.0 %

Shares of NASDAQ RCEL traded up $0.17 during trading hours on Thursday, hitting $8.78. 218,912 shares of the company traded hands, compared to its average volume of 210,776. The company’s 50 day moving average price is $10.81 and its 200 day moving average price is $10.60. AVITA Medical has a 12 month low of $7.51 and a 12 month high of $18.93. The stock has a market capitalization of $230.21 million, a price-to-earnings ratio of -3.94 and a beta of 1.55. The company has a current ratio of 3.73, a quick ratio of 3.37 and a debt-to-equity ratio of 3.48.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $12.00 price objective (up previously from $9.00) on shares of AVITA Medical in a research note on Friday, November 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $21.00 target price on shares of AVITA Medical in a report on Tuesday, December 24th. Lake Street Capital decreased their price target on shares of AVITA Medical from $20.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, D. Boral Capital reissued a “buy” rating and issued a $25.00 price objective on shares of AVITA Medical in a research note on Wednesday, January 8th. 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

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.