Cantor Fitzgerald Maintains Overweight Rating for AVITA Medical with $21 Price Target

Analysts at Cantor Fitzgerald have reaffirmed an "overweight" rating for AVITA Medical (NASDAQ:RCEL) in a recent report to investors released on Tuesday. They have set a price target of $21.00 on the stock, indicating a potential upside of approximately 78.72% from its current trading level.

In addition to Cantor Fitzgerald's analysis, other equity research firms have also provided insights on AVITA Medical. Piper Sandler maintained a "neutral" rating while revising their price target to $12.00, up from the previous $9.00. This change came in a report dated November 8. Furthermore, D. Boral Capital has initiated coverage of AVITA Medical, giving it a "buy" rating along with a more ambitious price target of $25.00.

AVITA Medical's Stock Performance

On Tuesday, shares of AVITA Medical opened at $11.75. The company has shown strong liquidity with a quick ratio of 3.37 and a current ratio of 3.73, alongside a debt-to-equity ratio of 3.48. AVITA Medical's 50-day simple moving average stands at $11.95, while its 200-day simple moving average is $10.24. Over the past year, the stock has seen a low of $7.51 and a high of $18.93, with a market capitalization of $308.06 million and a negative PE ratio of -5.27.

Recently, AVITA Medical released its quarterly earnings data on November 7, reporting an earnings per share (EPS) of ($0.62), which was below analysts' expected consensus of ($0.41) by a margin of $0.21. The company faced a significant negative net margin of 95.47% and a return on equity (ROE) of -194.69%. The revenue reported for the quarter was $19.55 million, slightly less than the consensus estimate of $19.65 million for that period. Last year during the same quarter, the EPS was ($0.34). For the current year, sell-side analysts forecast an average EPS of -2.35.

Recent Trading Activity by Institutional Investors

Institutional investments in AVITA Medical have been notable. Geode Capital Management LLC has increased its stake in the company by 1.4% in the third quarter, now owning 594,436 shares valued at approximately $6.37 million after acquiring an additional 8,361 shares. State Street Corp has also raised its holdings by 2.4%, owning 519,997 shares worth about $5.57 million following an additional purchase of 11,997 shares. Essex Investment Management Co. LLC entered the scene by acquiring a new stake valued at around $2.48 million during the same quarter. Additionally, Jane Street Group LLC increased its stake by 32.7%, now owning 89,395 shares, and Barclays PLC dramatically grew its stake by 340.0%, bringing its ownership to 37,503 shares valued at $402,000. Currently, institutional investors and hedge funds hold approximately 27.66% of AVITA Medical's stock.

About AVITA Medical

AVITA Medical, Inc., along with its subsidiaries, operates as a regenerative medicine company in both the United States and internationally. Its leading product is the RECELL System, a device designed for cell harvesting used to treat thermal burn wounds, full-thickness skin defects, and to assist in the repigmentation of stable depigmented vitiligo lesions.

AVITA, Stocks, Investment