Avita Medical Ltd. (RCEL) PT Lowered to $14 at Lake Street Capital Markets

Lake Street Capital Markets analyst Brooks O’Neil lowered the price target on Avita Medical Ltd. (NASDAQ: RCEL) to $14.00 (from $20.00) while maintaining a Buy rating.

The analyst commented: "The Q4 revenue shortfall is disappointing as AVITA had both positive momentum and strong accomplishments during the fourth quarter. As a reminder, the Company gained FDA approval in December for RECELL GO mini, as well as FDA clearance of Cohealyx, both of which remain central to the expanding top line growth expected in 2025. We still expect a full commercial launch of Cohealyx in Q2’25, which is expected to triple the addressable market in burns. The Company is building a comprehensive product portfolio around RECELL, which we think will bring both growth and positive adoption in 2025. With shares off nearly 22% in the after hours, trading down to around $11.00, we are maintaining our Buy rating as we continue to think this is a significant year for AVITA, with the key to the creation of shareholder value remaining execution. We are lowering our price target to $14."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• AI/ML Innovations plans $2M private placement on the CSE
• Cantor Fitzgerald Reiterates Overweight Rating on Applied Materials (AMAT)