Cantor Fitzgerald named Overweight-rated Avita Medical as the firm’s best idea for 2024, citing the company’s top-tier growth rate and gross margins at 64% year-over-year and 85%, respectively. Growth in 2024 will benefit from the company’s expanded indication to treat full thickness skin defects and the easier-to-use RECELL GO launch in 2H24, assuming approval, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on RCEL:
- AVITA Medical Announces Exclusive Distribution Agreement with Stedical Scientific
- Avita Medical in distribution pact with Stedical Scientific for PermeaDerm
- Avita Medical completes enrollment of TONE study earlier than anticipated
- Avita Medical sees 2024 commercial revenue $78.5M-$84.5M, consensus $75.2M
- Avita Medical sees Q1 commercial revenue $14.8M-$15.6M, consensus $15.89M