Zacks Investment Research upgraded shares of Avita Medical Ltd (AVMXY) from N/A to OUTPERFORM on June 17, 2013, with a target price of $4.00.
We are initiating coverage of Avita Medical with a Buy rating and $4.00 price target. We are big fans of the company's ReCell Spay-On Skin system. ReCell is an autologous cell harvesting, processing and delivery technology that enables surgeons and clinicians to treat complicated skin defects, including chronic wounds, scars, burns, depigmentation, and aid in rejuvenation or reconstruction procedures that uses a patient's own skin cells to facilitate the regenerative process. The market capitalization at only $32.5 million is far too low and highly attractive for long-term investment in our view.
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