BTIG Research Analysts Give Vericel Corporation (VCEL) a $6.00 Price Target

BTIG Research set a $6.00 target price on Vericel Corporation (NASDAQ:VCEL) in a research note released on Wednesday morning. The brokerage currently has a buy rating on the biotechnology company’s stock.

Vericel Corporation (VCEL) traded up 4.48% on Wednesday, reaching $3.50. The company had a trading volume of 599,570 shares. The stock’s market capitalization is $114.68 million. Vericel Corporation has a 12-month low of $2.00 and a 12-month high of $4.55. The stock’s 50 day moving average price is $3.28 and its 200-day moving average price is $2.88.

Vericel Corporation (NASDAQ:VCEL) last announced its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.16. The company had revenue of $16.95 million during the quarter. Equities analysts expect that Vericel Corporation will post ($0.63) earnings per share for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Vericel Corporation by 7.9% in the second quarter. Vanguard Group Inc. now owns 1,212,799 shares of the biotechnology company’s stock worth $4,002,000 after buying an additional 88,645 shares during the period. First Washington CORP acquired a new stake in Vericel Corporation during the second quarter worth $2,230,000. Bank of New York Mellon Corp increased its stake in Vericel Corporation by 13.8% in the second quarter. Bank of New York Mellon Corp now owns 37,202 shares of the biotechnology company’s stock worth $123,000 after buying an additional 4,523 shares during the period. Perkins Capital Management Inc. increased its stake in Vericel Corporation by 12.6% in the second quarter. Perkins Capital Management Inc. now owns 257,600 shares of the biotechnology company’s stock worth $850,000 after buying an additional 28,850 shares during the period. Finally, Stonepine Capital Management LLC increased its stake in Vericel Corporation by 73.3% in the first quarter. Stonepine Capital Management LLC now owns 3,265,323 shares of the biotechnology company’s stock worth $9,143,000 after buying an additional 1,381,523 shares during the period. Hedge funds and other institutional investors own 31.99% of the company’s stock.

Vericel Corporation Company Profile

Vericel Corporation, formerly Aastrom Biosciences, Inc, is a commercial-stage biopharmaceutical company dedicated to the identification, development and commercialization of therapies that enable the body to repair and regenerate damaged tissues and organs to restore normal structure and function. The Company operates through the research, product development, manufacture and distribution of patient-specific, expanded cellular therapies for use in the treatment of specific diseases segment.

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