BTIG lowered the firm’s price target on Avita Medical to $20 from $26 and keeps a Buy rating on the shares after its Q3 results. The company saw solid execution in existing markets and multiple milestones to come, the analyst tells investors in a research note. With clinical data showing efficacy, improved cost-effectiveness over competitors, and lower donor site requirements relative to standard of care, Avita’s foray in the U.S. inpatient burn market is encouraging, the firm added.
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