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 research note released on Saturday morning, ValuEngine reports.

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

AVITA MED LTD/S stock opened at $30.54 on Friday. The stock has a market capitalization of $560.31 million, a price-to-earnings ratio of -78.31 and a beta of 1.23. AVITA MED LTD/S has a 52-week low of $5.50 and a 52-week high of $55.35. The stock’s 50 day moving average price is $6.19 and its two-hundred day moving average price is $7.40. The company has a debt-to-equity ratio of 0.03, a quick ratio of 15.22 and a current ratio of 15.36.

Several large investors have recently modified their holdings of RCEL. PNC Financial Services Group Inc. acquired a new position in shares of AVITA MED LTD/S during the fourth quarter worth approximately $71,000. Blackcrane Capital LLC acquired a new position in shares of AVITA MED LTD/S during the fourth quarter worth approximately $49,936,000. Credit Suisse AG acquired a new position in shares of AVITA MED LTD/S during the fourth quarter worth approximately $152,000. UBS Group AG acquired a new position in shares of AVITA MED LTD/S during the fourth quarter worth approximately $49,000. Finally, Bank of America Corp DE purchased a new stake in AVITA MED LTD/S in the 4th quarter valued at $58,000. 5.52% of the stock is currently owned by institutional investors.

About AVITA MED LTD/S

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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