AVITA Medical shares surge 10.12% intraday after Cantor Fitzgerald and Piper Sandler upgrade to Overweight and raise price targets.

AVITA Medical (NASDAQ:RCEL) surged 10.12% intraday following renewed analyst optimism and institutional interest. The stock’s rally coincided with its announcement to present at the Cantor Global Healthcare Conference on September 21, signaling renewed investor confidence in its regenerative medicine platform. This followed a 49% institutional ownership stake highlighted on September 15 and a 14% price target increase to $26.27 in early August. Analysts at Cantor Fitzgerald and Piper Sandler have maintained "overweight" or "buy" ratings since June, citing progress in FDA approvals for its RECELL system and strategic leadership changes, including the appointment of a new CFO in June. The cumulative effect of these positive catalysts, combined with recent institutional buying, drove the sharp intraday gain.