Cantor Fitzgerald analyst Ross Osborne reiterated an Overweight rating and $19.00 price target on Avita Medical Ltd. (NASDAQ: RCEL) following Q1 results, saying they would buy on today's weakness. The stock is down 22% in early trading.

The analyst commented, "We reiterate our Overweight rating and 12-month price target of $19 following RCEL reporting comprehensive 1Q25 results and reiterating FY25 guidance. Specifically, RCEL reported commercial revenue (which excludes BARDA revenue) of $18.5 million (Cantor $20.1 million / FactSet consensus $20.9 million), representing YoY growth of ~67%, driven primarily by deeper penetration within existing customer accounts, as well as new accounts for full-thickness skin defect. Turning to guidance, RCEL reiterated FY25 commercial revenue guidance in the range of $100 million to $106 million (Pre-call Cantor $103.4 million / Pre-call FactSet consensus $101.8 million), reflecting growth of ~55-65% YoY. With a full year of RECELL GO, the roll-out of Mini combined with material growth in the 2H from PermeaDerm and Cohealyx, we believe Avita is set up well to exceed expectations this year, and accordingly, we reiterate our OW and would be buyers on today's weakness."

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Shares of Avita Medical Ltd. closed at $9.33 yesterday.