D. Boral Capital Reaffirms “Buy” Rating for AVITA Medical (NASDAQ:RCEL)

AVITA Medical (NASDAQ:RCEL)‘s stock had its “buy” rating restated by D. Boral Capital in a note issued to investors on Wednesday,Benzinga reports. They presently have a $25.00 price target on the stock. D. Boral Capital’s price target points to a potential upside of 77.81% from the stock’s previous close.

Several other research firms have also recently weighed in on RCEL. Cantor Fitzgerald reissued an “overweight” rating and set a $21.00 price target on shares of AVITA Medical in a report on Tuesday, December 24th. 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 Price Performance

NASDAQ:RCEL opened at $14.06 on Wednesday. The company has a market cap of $368.63 million, a P/E ratio of -6.30 and a beta of 1.58. The firm’s fifty day moving average price is $12.56 and its two-hundred day moving average price is $10.60. AVITA Medical has a one year low of $7.51 and a one year high of $18.93. The company has a debt-to-equity ratio of 3.48, a current ratio of 3.73 and a quick ratio of 3.37.

AVITA Medical (NASDAQ:RCEL) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.21). The company had revenue of $19.55 million during the quarter, compared to analyst estimates of $19.65 million. AVITA Medical had a negative net margin of 95.47% and a negative return on equity of 194.69%. During the same quarter last year, the company posted ($0.34) EPS. Equities analysts expect that AVITA Medical will post -2.35 earnings per share for the current year.

Institutional Investors Weigh In On AVITA Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in RCEL. Essex Investment Management Co. LLC bought a new position in AVITA Medical during the 3rd quarter worth $2,477,000. Jane Street Group LLC grew its holdings in shares of AVITA Medical by 32.7% during the 3rd quarter. Jane Street Group LLC now owns 89,395 shares of the company’s stock worth $958,000 after purchasing an additional 22,032 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of AVITA Medical by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 594,436 shares of the company’s stock worth $6,373,000 after purchasing an additional 8,361 shares in the last quarter. State Street Corp increased its position in shares of AVITA Medical by 2.4% in the third quarter. State Street Corp now owns 519,997 shares of the company’s stock worth $5,574,000 after purchasing an additional 11,997 shares during the period. Finally, Barclays PLC raised its stake in AVITA Medical by 340.0% in the third quarter. Barclays PLC now owns 37,503 shares of the company’s stock valued at $402,000 after purchasing an additional 28,979 shares in the last quarter. 27.66% of the stock is currently owned by institutional investors and hedge funds.

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.