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

AVITA Medical (NASDAQ:RCEL) issued its quarterly earnings results on Thursday. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.14), Zacks reports. The business had revenue of $18.41 million during the quarter, compared to the consensus estimate of $18.40 million. AVITA Medical had a negative return on equity of 194.69% and a negative net margin of 95.47%.

AVITA Medical Price Performance

AVITA Medical stock traded up $1.79 on Friday, reaching $10.57. The company’s stock had a trading volume of 951,785 shares, compared to its average volume of 172,058. The business’s fifty day moving average price is $10.69 and its 200 day moving average price is $10.59. The company has a market cap of $277.15 million, a price-to-earnings ratio of -4.74 and a beta of 1.55. AVITA Medical has a twelve month low of $7.51 and a twelve month high of $18.93. The company has a debt-to-equity ratio of 3.48, a quick ratio of 3.37 and a current ratio of 3.73.

Wall Street Analysts Forecast Growth

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