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Launch of Cohealyx™: AVITA Medical has announced the U.S. commercial launch of Cohealyx™, a collagen-based dermal matrix designed to enhance wound healing by facilitating cellular migration and revascularization, potentially leading to faster graft readiness and shorter hospital stays for patients.

Expansion of Product Portfolio: Cohealyx complements AVITA's existing products, including the RECELL® System and PermeaDerm®, as part of an integrated approach to managing full-thickness wounds, with ongoing clinical trials aimed at evaluating its effectiveness and patient recovery timelines.

New Manufacturing and Distribution Agreements: AVITA Medical has entered a new Contract Manufacturing Agreement for its PermeaDerm Biosynthetic Wound Matrix and amended its Exclusive Distribution Agreement with Stedical Scientific, enhancing their collaboration to expand market access and optimize production capabilities.

PermeaDerm's Benefits and Market Reach: The agreements aim to ensure the availability of PermeaDerm, which is FDA-cleared for various wound types, while allowing AVITA Medical to retain a larger share of sales revenue, thus supporting further commercialization and accessibility in healthcare settings.

Company Presentation Announcement: AVITA Medical, Inc. will have its CEO, Jim Corbett, present at TD Cowen's 45th Annual Health Care Conference on March 4, 2025, with a live audio webcast available on their website.

About AVITA Medical: The company specializes in acute wound care solutions, notably the RECELL System for treating burns and skin defects, and holds various international approvals for its products.

Investor Webinar Announcement: AVITA Medical, Inc. will host an investor webinar on February 18, 2025, featuring CEO Jim Corbett and CFO David O'Toole to discuss the company's fourth quarter and full-year 2024 financial results, followed by a Q&A session.

Company Overview: AVITA Medical specializes in acute wound care solutions, notably the RECELL System for treating burns and skin defects, with various international approvals and exclusive rights to market specific products in the U.S.

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Analyst Ratings on Avita Medical: Matthew O’Brien from Piper Sandler maintains a Hold rating on Avita Medical with a price target of $11.00, while BTIG's Ryan Zimmerman also issued a Hold rating, and TD Cowen has a Buy rating for the stock.

Insider Activity and Market Performance: Avita Medical has a market cap of $230.2M and positive insider sentiment, as evidenced by recent purchases from insiders, including a director buying shares worth over $6,000.

Cochlear Limited Analysis: UBS analyst Laura Sutcliffe maintains a Sell rating on Cochlear Limited with a price target of A$270.00, while the stock is currently trading near its 52-week low, and the general consensus suggests a Hold rating with an average price target of $189.53.

Avita Medical Update: BTIG analyst Ryan Zimmerman reiterates a Hold rating on Avita Medical, which is also close to its 52-week low, with a Moderate Buy consensus rating and an average price target of $17.40.

Analyst Ratings on Avita Medical: Ryan Zimmerman from BTIG has reiterated a Hold rating on Avita Medical, while Piper Sandler also issued a Hold rating. In contrast, Lake Street maintained a Buy rating for the company.

Financial Performance and Insider Activity: Avita Medical reported a quarterly revenue of $19.55 million with a GAAP net loss of $16.21 million, showing an increase in both revenue and losses compared to the previous year. Positive insider sentiment is noted, with recent purchases by corporate insiders indicating confidence in the stock.

Revenue Guidance Revision: Avita Medical revised its revenue projections for Q4 and full-year 2024 due to slower purchasing by hospital accounts, expecting Q4 revenue of $18.4 million (below previous guidance) and full-year revenue of $64.3 million.

Future Outlook and Growth Plans: Despite the shortfall, Avita plans to continue expanding with new product launches and projects commercial revenue of $100-$106 million for 2025, while adjusting its timeline for achieving profitability to late 2025.

U.S. Stock Market Trends: U.S. stock futures are slightly lower, with Dow futures down about 0.1%. Several companies, including AVITA Medical and SEALSQ Corp, experienced significant pre-market declines after disappointing revenue forecasts or stock placements.

Notable Stock Movements: AVITA Medical shares dropped 21.1%, while other companies like Quantum Computing Inc and fuboTV Inc saw declines of 18.8% and 18.5%, respectively, indicating a challenging trading environment for these stocks.

Market Movers: AAR Corp, Cal-Maine Foods, and Kura Sushi USA saw significant gains after earnings reports, while Sana Biotechnology surged 333.8% following positive diabetes study results. Conversely, AVITA Medical and several quantum computing companies experienced notable declines after disappointing earnings or negative market sentiment.

Investment Insights: The article emphasizes the importance of using tools like Tipranks' Stock Screener to identify outperforming stocks and make informed investment decisions amidst fluctuating market conditions.

Flutter Entertainment and DraftKings Performance: Flutter Entertainment's shares dropped 4% due to unfavorable U.S. sports results impacting revenue, while DraftKings also fell 1.5% in response. Despite this, Flutter's management remains optimistic about long-term growth.

Cal-Maine Foods and Sana Biotechnology Surge: Cal-Maine Foods saw a 5% increase in shares after exceeding revenue estimates, driven by strong demand for shell eggs. Conversely, Sana Biotechnology's shares surged following positive initial results from a groundbreaking diabetes treatment study.

Fourth Quarter Revenue Update: AVITA Medical revised its fourth quarter 2024 revenue guidance to approximately $18.4 million, a 30% increase from the previous year, down from an earlier estimate of $22.3 million to $24.3 million due to slower purchasing activity by hospital accounts.

Future Growth Projections: The company anticipates full-year 2025 commercial revenue between $100 million and $106 million, reflecting a growth of 55% to 65% over 2024, while also expecting to achieve cashflow break-even and GAAP profitability by Q4 2025.

Market Performance: The S&P 500 closed down slightly while the Dow Jones rose to a one-week high, influenced by falling Treasury yields and mixed labor market data, with initial unemployment claims decreasing but continuing claims rising to a three-year high.

Stock Movements: Retailers like Target and Dollar Tree saw gains due to strong holiday sales reports, while stocks related to cryptocurrencies faced declines following a drop in Bitcoin prices.

Market Overview: The S&P 500, Dow Jones, and Nasdaq indices are all down slightly as trading resumes post-Christmas, influenced by rising bond yields and mixed labor market data, with initial unemployment claims unexpectedly falling while continuing claims rise to a three-year high.

Stock Movements: Cryptocurrency-related stocks are declining due to a drop in Bitcoin prices, while home builders are also affected by higher T-note yields. Conversely, some stocks like Avita Medical and UnitedHealth Group are experiencing gains following positive analyst ratings.

Analyst Coverage and Price Target: D. Boral Capital has initiated coverage of AVITA Medical with a Buy recommendation, projecting a 34.11% upside based on an average one-year price target of $17.34/share, despite a projected annual revenue decrease of 14.42%.

Institutional Ownership Trends: There are currently 174 funds reporting positions in AVITA Medical, with a slight decrease in the number of owners but an increase in total shares owned by institutions by 16.41% over the last three months, indicating a generally bullish sentiment towards the stock.

Analyst Ratings Updates: Top Wall Street analysts have initiated coverage on several companies, including ServiceNow with an Outperform rating and a price target of $1200, AVITA Medical with a Buy rating and a target of $25, and Mereo BioPharma Group with an Outperform rating and a target of $10.

Current Stock Prices: As of Monday, ServiceNow shares closed at $1,088.26, AVITA Medical at $11.75, and Mereo BioPharma at $3.39, reflecting the analysts' outlooks on these stocks.

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Community of Serious Traders: Over 10,000 traders are part of the Benzinga Pro community, benefiting from accurate market intelligence and timely updates.