Avita Medical price target raised to $26 from $20 at BTIG

BTIG analyst Ryan Zimmerman raised the firm’s price target on Avita Medical to $26 from $20 and keeps a Buy rating on the shares after its Q4 earnings beat. The company has scaled up to bring RECELL into the full-thickness skin defect market, but broader physician interest is once again resulting in added reps in order to keep territories concentrated, which will allow Avita to go deeper into accounts, leading to accelerated revenue in the second half of the year, the analyst tells investors in a research note.