Piper Sandler Downgrades AVITA Medical to Neutral, Lowers Price Target to $9
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Matt O'Brien downgraded AVITA Medical (NASDAQ:RCEL) from Overweight to Neutral and reduced the price target from $21 to $9.
May 14, 2024 | 3:31 pm
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NEGATIVE IMPACT
AVITA Medical's downgrade by Piper Sandler from Overweight to Neutral, along with a significant reduction in price target from $21 to $9, could negatively impact investor sentiment and the stock's short-term price movement.
Analyst downgrades and price target adjustments are critical indicators for investors, often leading to immediate stock price reactions. The substantial decrease in AVITA Medical's price target and the downgrade to Neutral suggest a less optimistic outlook from Piper Sandler, which could lead to decreased investor confidence and a potential drop in stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100