AVITA MED LTD/S (NASDAQ:RCEL) Upgraded to “Buy” at ValuEngine

ValuEngine upgraded shares of AVITA MED LTD/S (NASDAQ:RCEL) from a hold rating to a buy rating in a report released on Saturday, ValuEngine reports.

A number of other equities analysts have also recently weighed in on RCEL. BTIG Research reissued a buy rating and set a $8.00 price objective on shares of AVITA MED LTD/S in a report on Thursday, June 18th. Oppenheimer started coverage on AVITA MED LTD/S in a research note on Monday, June 15th. They issued a buy rating and a $9.00 price target on the stock. Zacks Investment Research cut AVITA MED LTD/S from a buy rating to a hold rating in a research note on Tuesday, June 23rd. Finally, Lake Street Capital reaffirmed a buy rating and issued a $12.00 price target on shares of AVITA MED LTD/S in a research note on Thursday, March 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $8.88.

Shares of NASDAQ RCEL opened at $30.54 on Friday. The stock has a market cap of $560.31 million, a price-to-earnings ratio of -78.31 and a beta of 1.23. The company has a current ratio of 15.36, a quick ratio of 15.22 and a debt-to-equity ratio of 0.03. AVITA MED LTD/S has a 1-year low of $5.50 and a 1-year high of $55.35. The stock’s 50-day moving average is $6.19 and its 200 day moving average is $7.40.

Several hedge funds have recently modified their holdings of RCEL. JPMorgan Chase & Co. bought a new stake in shares of AVITA MED LTD/S in the 1st quarter worth approximately $29,000. Larson Financial Group LLC grew its position in shares of AVITA MED LTD/S by 77.6% in the 1st quarter. Larson Financial Group LLC now owns 5,985 shares of the company’s stock worth $37,000 after buying an additional 2,616 shares during the last quarter. Allred Capital Management LLC bought a new stake in shares of AVITA MED LTD/S in the 1st quarter worth approximately $48,000. UBS Group AG bought a new stake in shares of AVITA MED LTD/S in the 4th quarter worth approximately $49,000. Finally, Advisor Group Holdings Inc. bought a new stake in shares of AVITA MED LTD/S in the 1st quarter worth approximately $55,000. Hedge funds and other institutional investors own 5.52% of the company’s stock.

AVITA MED LTD/S Company Profile

Avita Medical Limited operates as a regenerative medicine company in the Asia Pacific, Europe, the Middle East, Africa, and the Americas. It offers regenerative products to address unmet medical needs in burn injuries, trauma injuries, chronic wounds, and dermatological and aesthetics indications. The company's patented and proprietary platform technology provides treatment solutions derived from the regenerative properties of a patient's own skin.

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