Shares of Vericel Corporation (NASDAQ:VCEL – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $55.40.
Several analysts have recently weighed in on VCEL shares. Weiss Ratings cut Vericel from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Wall Street Zen cut Vericel from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. HC Wainwright restated a “buy” rating and set a $64.00 price target on shares of Vericel in a report on Friday, May 8th. Truist Financial reduced their price target on Vericel from $48.00 to $42.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Finally, Leerink Partners reiterated an “outperform” rating and issued a $46.00 target price on shares of Vericel in a report on Tuesday, March 10th.
Read Our Latest Stock Report on Vericel
Vericel Trading Down 2.7%
Vericel (NASDAQ:VCEL – Get Free Report) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.03. The firm had revenue of $68.43 million during the quarter, compared to the consensus estimate of $63.68 million. Vericel had a return on equity of 6.41% and a net margin of 7.35%.The business’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.23) earnings per share. On average, sell-side analysts predict that Vericel will post 0.47 earnings per share for the current year.
Insider Buying and Selling
In related news, insider Jonathan Mark Hopper sold 3,472 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $35.00, for a total value of $121,520.00. Following the sale, the insider directly owned 75,556 shares in the company, valued at $2,644,460. This represents a 4.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.60% of the stock is owned by insiders.
Institutional Trading of Vericel
Institutional investors have recently added to or reduced their stakes in the stock. Congress Asset Management Co. boosted its holdings in Vericel by 11.4% in the fourth quarter. Congress Asset Management Co. now owns 1,664,578 shares of the biotechnology company’s stock valued at $59,941,000 after acquiring an additional 169,971 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Vericel by 174.0% during the 3rd quarter. GSA Capital Partners LLP now owns 64,387 shares of the biotechnology company’s stock worth $2,026,000 after buying an additional 40,892 shares in the last quarter. Aberdeen Group plc boosted its holdings in shares of Vericel by 7.6% during the 4th quarter. Aberdeen Group plc now owns 583,884 shares of the biotechnology company’s stock worth $21,026,000 after buying an additional 41,018 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Vericel by 90.3% during the 3rd quarter. William Blair Investment Management LLC now owns 2,210,929 shares of the biotechnology company’s stock worth $69,578,000 after buying an additional 1,048,864 shares in the last quarter. Finally, CenterBook Partners LP boosted its holdings in shares of Vericel by 171.1% during the 3rd quarter. CenterBook Partners LP now owns 184,986 shares of the biotechnology company’s stock worth $5,822,000 after buying an additional 116,756 shares in the last quarter.
About Vericel
Vericel Corporation is a biotechnology company specializing in the development, manufacturing and commercialization of cell-based therapies for patients with severe diseases and conditions. The company’s expertise lies in regenerative medicine, where it harnesses the power of autologous cell processing to create products designed to restore function and promote healing in damaged tissues.
Vericel currently markets two FDA-approved therapies. MACI® (autologous cultured chondrocytes on porcine collagen membrane) is indicated for the repair of symptomatic cartilage defects of the knee in adult patients.
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