AVITA Medical (NASDAQ:RCEL) Releases Earnings Results

AVITA Medical (NASDAQ:RCEL) posted its earnings results on Thursday. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.01), Zacks reports. The business had revenue of $15.20 million during the quarter, compared to the consensus estimate of $15.04 million. AVITA Medical had a negative return on equity of 84.07% and a negative net margin of 88.41%. During the same period in the previous year, the business posted ($0.41) EPS.

AVITA Medical Price Performance

NASDAQ:RCEL traded up $1.64 on Friday, reaching $9.57. 428,229 shares of the company’s stock traded hands, compared to its average volume of 216,905. The company has a quick ratio of 6.64, a current ratio of 7.25 and a debt-to-equity ratio of 1.27. The stock has a 50-day simple moving average of $8.84 and a 200-day simple moving average of $11.89. The firm has a market cap of $246.91 million, a PE ratio of -5.44 and a beta of 1.54. AVITA Medical has a 12 month low of $7.51 and a 12 month high of $20.01.

Analyst Ratings Changes

RCEL has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $21.00 price target on shares of AVITA Medical in a research note on Friday. Piper Sandler restated a “neutral” rating and issued a $9.00 price target (down from $21.00) on shares of AVITA Medical in a research note on Tuesday, May 14th.

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.