Vericel Corporation (NASDAQ:VCEL – Get Free Report)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $48.45 and last traded at $48.4950, with a volume of 41825 shares trading hands. The stock had previously closed at $46.72.
Analysts Set New Price Targets
VCEL has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $64.00 price target on shares of Vericel in a report on Friday, May 8th. Truist Financial increased their price objective on Vericel from $42.00 to $54.00 and gave the company a “buy” rating in a report on Thursday. Wall Street Zen raised Vericel from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings raised Vericel from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, June 16th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Vericel presently has an average rating of “Hold” and a consensus price target of $55.50.
Get Our Latest Stock Analysis on VCEL
Vericel Stock Performance
Vericel (NASDAQ:VCEL – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03. Vericel had a net margin of 7.35% and a return on equity of 6.41%. The firm had revenue of $68.43 million during the quarter, compared to analysts’ expectations of $63.68 million. During the same period in the previous year, the company earned ($0.23) earnings per share. Vericel’s quarterly revenue was up 30.1% compared to the same quarter last year. Analysts expect that Vericel Corporation will post 0.49 earnings per share for the current year.
Insider Transactions at Vericel
In other news, insider Sean C. Flynn sold 15,000 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $45.64, for a total value of $684,600.00. Following the completion of the sale, the insider directly owned 1,647 shares of the company’s stock, valued at approximately $75,169.08. The trade was a 90.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan Mark Hopper sold 10,000 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $45.00, for a total value of $450,000.00. Following the completion of the sale, the insider directly owned 75,753 shares of the company’s stock, valued at approximately $3,408,885. This trade represents a 11.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 47,732 shares of company stock valued at $2,084,167 over the last quarter. Company insiders own 7.60% of the company’s stock.
Institutional Investors Weigh In On Vericel
Large investors have recently modified their holdings of the company. Congress Asset Management Co. lifted its position in Vericel by 11.4% during the 4th quarter. Congress Asset Management Co. now owns 1,664,578 shares of the biotechnology company’s stock worth $59,941,000 after acquiring an additional 169,971 shares during the period. Aberdeen Group plc grew its stake in shares of Vericel by 7.6% in the 4th quarter. Aberdeen Group plc now owns 583,884 shares of the biotechnology company’s stock valued at $21,026,000 after purchasing an additional 41,018 shares during the last quarter. GW&K Investment Management LLC increased its holdings in shares of Vericel by 22.5% in the fourth quarter. GW&K Investment Management LLC now owns 1,580,967 shares of the biotechnology company’s stock valued at $56,931,000 after purchasing an additional 290,795 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Vericel by 2,152.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 45,885 shares of the biotechnology company’s stock valued at $1,652,000 after purchasing an additional 43,848 shares during the period. Finally, Madison Asset Management LLC purchased a new stake in shares of Vericel during the fourth quarter worth approximately $1,819,000.
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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