AVITA Medical (NASDAQ:RCEL) Announces Earnings Results

AVITA Medical (NASDAQ:RCEL) issued its earnings results on Thursday. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.14), Zacks reports. AVITA Medical had a negative return on equity of 194.69% and a negative net margin of 95.47%.

AVITA Medical Stock Up 2.0 %

NASDAQ RCEL traded up $0.17 on Thursday, hitting $8.78. The stock had a trading volume of 218,912 shares, compared to its average volume of 210,776. The business’s fifty day moving average price is $10.81 and its 200 day moving average price is $10.60. The stock has a market cap of $230.21 million, a price-to-earnings ratio of -3.94 and a beta of 1.55. The company has a debt-to-equity ratio of 3.48, a current ratio of 3.73 and a quick ratio of 3.37. AVITA Medical has a 52-week low of $7.51 and a 52-week high of $18.93.

Analyst Ratings Changes

A number of research firms recently weighed in on RCEL. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $21.00 price objective on shares of AVITA Medical in a research note on Tuesday, December 24th. D. Boral Capital reaffirmed a “buy” rating and issued a $25.00 price target on shares of AVITA Medical in a research report on Wednesday, January 8th. Piper Sandler reissued a “neutral” rating and set a $12.00 price objective (up from $9.00) on shares of AVITA Medical in a report on Friday, November 8th. Finally, Lake Street Capital reduced their price objective on shares of AVITA Medical from $20.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, AVITA Medical presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

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.