Avita Medical (NASDAQ:RCEL) Stock Price Target Raised at BTIG Research

Avita Medical (NASDAQ:RCEL) had its target price lifted by BTIG Research from $11.00 to $15.00 in a report released on Monday,Benzinga reports. BTIG Research currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on RCEL. Wall Street Zen upgraded shares of Avita Medical from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Avita Medical in a report on Monday, September 21st. Lake Street Capital boosted their target price on shares of Avita Medical from $8.00 to $12.00 and gave the company a “buy” rating in a report on Friday, August 28th. Finally, TD Cowen increased their price target on shares of Avita Medical from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Avita Medical currently has an average rating of “Moderate Buy” and a consensus price target of $12.20.

Avita Medical Stock Up 1.2%

Shares of NASDAQ:RCEL opened at $13.37 on Monday. The business has a fifty day moving average of $10.30 and a two-hundred day moving average of $6.46. The stock has a market cap of $411.53 million, a P/E ratio of -9.28 and a beta of 1.99. Avita Medical has a 52-week low of $3.22 and a 52-week high of $13.73.

Avita Medical (NASDAQ:RCEL) last issued its earnings results on Thursday, August 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. The company had revenue of $21.70 million during the quarter, compared to analyst estimates of $20.25 million. On average, equities analysts anticipate that Avita Medical will post -0.98 earnings per share for the current year.

Hedge Funds Weigh In On Avita Medical

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Avita Medical in the 2nd quarter valued at approximately $2,333,000. NewEdge Advisors LLC raised its position in Avita Medical by 8,588.5% in the first quarter. NewEdge Advisors LLC now owns 86,885 shares of the company’s stock valued at $321,000 after purchasing an additional 85,885 shares during the period. Bank of America Corp DE acquired a new position in Avita Medical during the second quarter worth $213,000. Thompson Davis & CO. Inc. acquired a new position in Avita Medical during the first quarter worth $144,000. Finally, Ieq Capital LLC acquired a new position in Avita Medical during the second quarter worth $134,000. Hedge funds and other institutional investors own 27.66% of the company’s stock.

Avita Medical Company Profile

Avita Medical is a regenerative medicine company focused on developing and commercializing technologies that use a patient’s own cells to support skin repair and healing. The company’s platform is designed to create a suspension of regenerative cells from a small sample of healthy skin, which can then be applied to damaged areas.

Its primary product is the RECELL Autologous Cell Harvesting Device, a point-of-care system that prepares a patient’s skin cells for use in treating thermal burn wounds.