Brokerages Set Vericel Co. (NASDAQ:VCEL) PT at $60.86

Shares of Vericel Co. (NASDAQ:VCEL) have been assigned an average rating of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $60.86.

A number of research firms have issued reports on VCEL. StockNews.com cut Vericel from a “hold” rating to a “sell” rating in a research note on Monday. Canaccord Genuity Group boosted their target price on Vericel from $64.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Truist Financial decreased their target price on Vericel from $61.00 to $51.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $60.00 target price on shares of Vericel in a research note on Friday, February 28th.

Vericel Stock Down 1.9%

Shares of Vericel stock opened at $41.49 on Tuesday. Vericel has a 12 month low of $37.39 and a 12 month high of $63.00. The business has a fifty day simple moving average of $42.62 and a 200 day simple moving average of $51.12. The stock has a market cap of $2.08 billion, a PE ratio of 691.62 and a beta of 1.31.

Vericel (NASDAQ:VCEL) last posted its earnings results on Thursday, May 8th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.14). Vericel had a net margin of 1.56% and a return on equity of 1.48%. The business had revenue of $52.60 million during the quarter, compared to analyst estimates of $53.86 million. During the same period in the previous year, the firm posted ($0.08) earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. Analysts expect that Vericel will post 0.14 EPS for the current fiscal year.

Insider Activity

In related news, CEO Dominick Colangelo sold 24,850 shares of the company’s stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $41.89, for a total transaction of $1,040,966.50. Following the sale, the chief executive officer now owns 260,354 shares in the company, valued at approximately $10,906,229.06. This represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.20% of the company’s stock.

Institutional Trading of Vericel

Several institutional investors and hedge funds have recently bought and sold shares of VCEL. Barclays PLC raised its holdings in Vericel by 145.4% during the third quarter. Barclays PLC now owns 111,527 shares of the biotechnology company’s stock worth $4,712,000 after acquiring an additional 66,082 shares in the last quarter. Franklin Resources Inc. raised its holdings in Vericel by 14.0% during the third quarter. Franklin Resources Inc. now owns 33,543 shares of the biotechnology company’s stock worth $1,412,000 after acquiring an additional 4,117 shares in the last quarter. Park Avenue Securities LLC bought a new stake in Vericel during the fourth quarter worth about $280,000. Geneos Wealth Management Inc. increased its position in Vericel by 826.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,511 shares of the biotechnology company’s stock worth $138,000 after buying an additional 2,240 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC increased its position in Vericel by 1.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 43,781 shares of the biotechnology company’s stock worth $2,404,000 after buying an additional 489 shares during the last quarter.

Vericel Company Profile

Vericel Corporation, a commercial-stage biopharmaceutical company, engages in the research, development, manufacture, and distribution of cellular therapies for sports medicine and severe burn care markets in North America. The company markets autologous cell therapy products comprising MACI, an autologous cultured chondrocytes on porcine collagen membrane for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns; and NexoBrid, a biological orphan product for eschar removal in adults with deep partial-thickness and/or full-thickness thermal burns.