Cantor Fitzgerald Lowers AVITA Medical (NASDAQ:RCEL) Price Target to $21.00

AVITA Medical (NASDAQ:RCELGet Free Report) had its target price dropped by equities researchers at Cantor Fitzgerald from $22.00 to $21.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 151.50% from the company’s current price.

A number of other research firms have also recently weighed in on RCEL. BTIG Research cut AVITA Medical from a “buy” rating to a “neutral” rating in a research report on Thursday, April 11th. Piper Sandler reissued an “overweight” rating and issued a $21.00 price target (up previously from $19.00) on shares of AVITA Medical in a report on Friday, February 23rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.00.

View Our Latest Analysis on RCEL

AVITA Medical Price Performance

RCEL opened at $8.35 on Tuesday. The firm has a market capitalization of $215.43 million, a PE ratio of -5.96 and a beta of 1.42. The business’s 50-day moving average is $12.75 and its two-hundred day moving average is $13.51. AVITA Medical has a 1 year low of $7.97 and a 1 year high of $21.70. The company has a debt-to-equity ratio of 0.81, a current ratio of 7.88 and a quick ratio of 7.46.

AVITA Medical (NASDAQ:RCELGet Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.06. AVITA Medical had a negative net margin of 70.56% and a negative return on equity of 54.80%. The firm had revenue of $14.20 million during the quarter, compared to analyst estimates of $14.10 million. Research analysts anticipate that AVITA Medical will post -1.21 earnings per share for the current fiscal year.

Institutional Trading of AVITA Medical

Several large investors have recently added to or reduced their stakes in the company. HighMark Wealth Management LLC acquired a new stake in shares of AVITA Medical in the fourth quarter worth $27,000. Allspring Global Investments Holdings LLC acquired a new position in shares of AVITA Medical in the 3rd quarter valued at about $98,000. Tower Research Capital LLC TRC boosted its stake in shares of AVITA Medical by 1,240.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,345 shares of the company’s stock worth $101,000 after buying an additional 6,797 shares during the last quarter. Aigen Investment Management LP acquired a new stake in AVITA Medical during the fourth quarter worth about $220,000. Finally, CenterBook Partners LP purchased a new position in AVITA Medical during the fourth quarter valued at approximately $234,000. Hedge funds and other institutional investors own 27.66% of the company’s stock.

About AVITA Medical

(Get Free Report)

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.

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