AVITA Medical (RCEL) Scheduled to Post Quarterly Earnings on Thursday

AVITA Medical (NASDAQ:RCEL) will be issuing its quarterly earnings data after the market closes on Thursday, August 8th. Analysts expect the company to announce earnings of ($0.59) per share for the quarter. AVITA Medical has set its Q2 2024 guidance at EPS.Parties interested in registering for the company’s conference call can do so using this link.

AVITA Medical (NASDAQ:RCEL) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.47). AVITA Medical had a negative return on equity of 84.07% and a negative net margin of 88.41%. The firm had revenue of $11.10 million during the quarter, compared to analysts’ expectations of $11.08 million. During the same quarter in the previous year, the company posted ($0.37) earnings per share. On average, analysts expect AVITA Medical to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

AVITA Medical Price Performance

RCEL opened at $8.07 on Wednesday. The stock has a 50-day moving average price of $8.89 and a 200-day moving average price of $12.00. AVITA Medical has a 12-month low of $7.51 and a 12-month high of $20.01. The company has a current ratio of 7.25, a quick ratio of 6.64 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $208.21 million, a P/E ratio of -4.59 and a beta of 1.54.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RCEL shares. Piper Sandler reissued a “neutral” rating and issued a $9.00 target price (down previously from $21.00) on shares of AVITA Medical in a research note on Tuesday, May 14th. Cantor Fitzgerald lowered their target price on AVITA Medical from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, May 14th. Finally, BTIG Research lowered AVITA Medical from a “buy” rating to a “neutral” rating in a research note on Thursday, April 11th.

About AVITA Medical

AVITA Medical, Inc, together with its subsidiaries, operates as a regenerative medicine company in the United States and internationally. The company's lead product is the RECELL System, a cell harvesting device used for the treatment of thermal burn wounds, full-thickness skin defects, and repigmentation of stable depigmented vitiligo lesions.