Oppenheimer Initiates a Buy Rating on Avita Medical (RCEL)

In a report released today, Kevin DeGeeter from Oppenheimer initiated coverage with a Buy rating on Avita Medical (RCEL) and a price target of $9.00. The company’s shares closed last Monday at $6.26.

According to TipRanks.com, DeGeeter is a 4-star analyst with an average return of 8.6% and a 43.4% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Catalyst Biosciences, Molecular Templates, and Cidara Therapeutics.

Avita Medical has an analyst consensus of Moderate Buy, with a price target consensus of $10.00, which is a 52.7% upside from current levels. In a report issued on April 6, BTIG also assigned a Buy rating to the stock with a $8.00 price target.

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The company has a one-year high of $11.07 and a one-year low of $4.00. Currently, Avita Medical has an average volume of 594K.

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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.

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