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

AVITA Medical (NASDAQ:RCEL)‘s stock had its “buy” rating reiterated by analysts at D. Boral Capital in a report issued on Tuesday,Benzinga reports. They currently have a $22.00 price objective on the stock. D. Boral Capital’s price objective would indicate a potential upside of 126.57% from the company’s previous close.

RCEL has been the topic of a number of other reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $21.00 price target on shares of AVITA Medical in a research report on Tuesday, December 24th. Lake Street Capital reduced 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 report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.25.

AVITA Medical Stock Up 5.0 %

RCEL stock opened at $9.71 on Tuesday. The company has a current ratio of 2.83, a quick ratio of 2.47 and a debt-to-equity ratio of 9.39. The company’s 50 day moving average is $9.08 and its 200 day moving average is $10.62. The stock has a market cap of $254.58 million, a price-to-earnings ratio of -4.06 and a beta of 1.57. AVITA Medical has a 1-year low of $7.51 and a 1-year high of $16.65.

AVITA Medical (NASDAQ:RCEL) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.14). The company had revenue of $18.41 million during the quarter, compared to the consensus estimate of $18.40 million. AVITA Medical had a negative return on equity of 337.91% and a negative net margin of 96.26%. Sell-side analysts predict that AVITA Medical will post -0.95 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert Mcnamara acquired 10,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was purchased at an average price of $10.09 per share, with a total value of $100,900.00. Following the completion of the purchase, the director now owns 45,749 shares in the company, valued at $461,607.41. This trade represents a 27.97 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.82% of the company’s stock.

Institutional Trading of AVITA Medical

A number of institutional investors have recently made changes to their positions in the stock. Delta Investment Management LLC boosted its stake in shares of AVITA Medical by 263.7% during the fourth quarter. Delta Investment Management LLC now owns 52,470 shares of the company’s stock valued at $672,000 after purchasing an additional 38,042 shares during the period. Millennium Management LLC purchased a new stake in AVITA Medical in the fourth quarter worth $426,000. Deutsche Bank AG lifted its stake in AVITA Medical by 78.9% in the fourth quarter. Deutsche Bank AG now owns 22,821 shares of the company’s stock worth $292,000 after acquiring an additional 10,063 shares during the period. Bank of America Corp DE lifted its stake in AVITA Medical by 16.2% in the fourth quarter. Bank of America Corp DE now owns 38,121 shares of the company’s stock worth $488,000 after acquiring an additional 5,324 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in AVITA Medical in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 27.66% of the company’s stock.

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.