Avita Medical price target lowered to $22 from $25 at D. Boral Capital

D. Boral Capital lowered the firm’s price target on Avita Medical (RCEL) to $22 from $25 and keeps a Buy rating on the shares. The CFO of Avita informed D. Boral that the company has no plans to enter the chronic wounds market for the foreseeable future. As a result, the firm removed chronic wounds from its model and adjusted its acute wounds market share assumptions to align with the company’s published guidance. With limited resources, Avita is prioritizing areas where its product attributes can have the greatest impact, the analyst tells investors in a research note.