AVITA Medical (NASDAQ:RCEL) Posts Earnings Results, Misses Expectations By $0.14 EPS

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

AVITA Medical Stock Performance

Shares of AVITA Medical stock opened at $9.95 on Friday. The company has a debt-to-equity ratio of 3.48, a quick ratio of 3.37 and a current ratio of 3.73. The company has a 50-day simple moving average of $10.74 and a two-hundred day simple moving average of $10.58. AVITA Medical has a one year low of $7.51 and a one year high of $18.93. The company has a market capitalization of $260.78 million, a PE ratio of -4.46 and a beta of 1.55.

Analysts Set New Price Targets

RCEL has been the subject of a number of research reports. Piper Sandler reaffirmed a “neutral” rating and issued a $12.00 price objective (up from $9.00) on shares of AVITA Medical in a research note on Friday, November 8th. D. Boral Capital reaffirmed a “buy” rating and issued a $25.00 price objective on shares of AVITA Medical in a research note on Friday. Lake Street Capital lowered 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. Finally, 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.00.

About AVITA Medical

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.