This rating was given 2 days before the announcement this afternoon, but after the Japan distribution announcement:
BTIG Thinks Avita Medical’s Stock is Going to Recover
Brian Anderson
Feb 28, 2022, 09:25 PM
BTIG analyst Ryan Zimmerman reiterated a Buy rating on Avita Medical (RCEL – Research Report) yesterday and set a price target of $21.00. The company’s shares closed last Monday at $9.20, close to its 52-week low of $8.15.
According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 16.3% and a 50.0% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Organogenesis Holdings, and Zimmer Biomet Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Avita Medical with a $21.00 average price target.
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Avita Medical’s market cap is currently $225.1M and has a P/E ratio of -9.47.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RCEL in relation to earlier this year.
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Avita Medical Ltd. engages in the development and distribution of regenerative and respiratory medicine and treatments. It operates through the following segments: Asia Pacific, Europe, and Americas. The Asia Pacific, Europe, and Americas segments involve in the sale of RECELL Devices. The company was founded on December 21, 1992 and is headquartered in Royston, the United Kingdom.
