Avita Medical price target lowered to $11 from $12 at Piper Sandler

Piper Sandler analyst Matt O’Brien lowered the firm’s price target on Avita Medical (RCEL) to $11 from $12 and keeps a Neutral rating on the shares. The firm notes Avita released full Q4 results which came in line with their preannouncement. Guidance was also reiterated, with the company expecting $100M- $106M for FY25. Guidance is fairly set, in Piper’s view, bolstered by the further expansion into trauma, and new products.