D. Boral Capital Reaffirms Buy Rating for Avita Medical (NASDAQ:RCEL)

Avita Medical (NASDAQ:RCEL)‘s stock had its “buy” rating reissued by investment analysts at D. Boral Capital in a research report issued on Monday,Benzinga reports. They currently have a $10.00 price target on the stock. D. Boral Capital’s price objective would indicate a potential upside of 125.23% from the company’s current price.

A number of other research firms also recently weighed in on RCEL. Lake Street Capital raised their price target on shares of Avita Medical from $3.00 to $3.50 and gave the company a “hold” rating in a report on Friday, January 16th. BTIG Research raised shares of Avita Medical from a “sell” rating to a “neutral” rating in a research report on Thursday, November 20th. Zacks Research raised Avita Medical from a “strong sell” rating to a “hold” rating in a research report on Friday, December 19th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Avita Medical in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $5.50.

Avita Medical Price Performance

RCEL stock opened at $4.44 on Monday. The firm has a market capitalization of $135.38 million, a P/E ratio of -2.45 and a beta of 1.70. The business’s 50-day moving average is $3.60 and its two-hundred day moving average is $4.44. Avita Medical has a 1 year low of $3.22 and a 1 year high of $11.25.

Avita Medical (NASDAQ:RCEL) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.03). The firm had revenue of $17.06 million during the quarter, compared to analyst estimates of $29.39 million. On average, analysts expect that Avita Medical will post -0.95 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Divisadero Street Capital Management LP bought a new stake in shares of Avita Medical during the 3rd quarter valued at $511,000. AQR Capital Management LLC acquired a new stake in shares of Avita Medical during the first quarter worth $799,000. Bridgeway Capital Management LLC grew its stake in shares of Avita Medical by 213.8% during the third quarter. Bridgeway Capital Management LLC now owns 118,004 shares of the company’s stock worth $603,000 after purchasing an additional 80,404 shares during the period. Brooklyn Investment Group increased its holdings in Avita Medical by 48,965.5% in the third quarter. Brooklyn Investment Group now owns 58,388 shares of the company’s stock valued at $298,000 after purchasing an additional 58,269 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Avita Medical in the first quarter valued at about $374,000. Institutional investors own 27.66% of the company’s stock.

About Avita Medical

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.