Avita Medical Ltd. (RCEL) PT Lowered to $15 at TD Cowen

TD Cowen analyst Joshua Jennings lowered the price target on Avita Medical Ltd. (NASDAQ: RCEL) to $15.00 (from $25.00) while maintaining a Buy rating.

The analyst commented, "Sales in 2Q of $15.1M came within Avita's guide and reflected growth of 29%. To account for a slower pace of VAC conversions primarily from earlier this year, the company is lowering its guidance to $68.0M-$70.0M, down from $78.5M-$84.5M previously. While this guidance adjustment is not ideal, we think Avita still has an attractive growth trajectory which will be bolstered by numerous catalysts."

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