Wall Street Zen upgraded shares of Vericel (NASDAQ:VCEL – Free Report) from a hold rating to a buy rating in a research note released on Saturday.
A number of other research analysts also recently commented on VCEL. HC Wainwright reaffirmed a “buy” rating and issued a $64.00 price target on shares of Vericel in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Vericel from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, June 16th. Finally, Truist Financial increased their price objective on shares of Vericel from $42.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Vericel presently has an average rating of “Hold” and an average price target of $55.50.
View Our Latest Analysis on VCEL
Vericel Price Performance
Vericel (NASDAQ:VCEL – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.03. The firm had revenue of $68.43 million during the quarter, compared to analysts’ expectations of $63.68 million. Vericel had a return on equity of 6.41% and a net margin of 7.35%.The company’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.23) EPS. On average, sell-side analysts anticipate that Vericel will post 0.49 EPS for the current fiscal year.
Insiders Place Their Bets
In other Vericel news, insider Sean C. Flynn sold 15,000 shares of Vericel stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $40.21, for a total value of $603,150.00. Following the transaction, the insider owned 1,647 shares in the company, valued at $66,225.87. The trade was a 90.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan Mark Hopper sold 10,000 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $45.00, for a total transaction of $450,000.00. Following the completion of the transaction, the insider directly owned 75,753 shares of the company’s stock, valued at $3,408,885. This trade represents a 11.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 47,732 shares of company stock worth $2,084,167 over the last 90 days. Corporate insiders own 7.60% of the company’s stock.
Institutional Investors Weigh In On Vericel
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Vericel by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 3,584,006 shares of the biotechnology company’s stock valued at $129,060,000 after purchasing an additional 68,368 shares during the last quarter. State Street Corp grew its stake in shares of Vericel by 12.7% during the fourth quarter. State Street Corp now owns 3,163,922 shares of the biotechnology company’s stock worth $113,933,000 after buying an additional 356,680 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of Vericel by 9.3% during the first quarter. Conestoga Capital Advisors LLC now owns 2,463,312 shares of the biotechnology company’s stock worth $79,245,000 after buying an additional 208,750 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Vericel by 0.5% during the fourth quarter. William Blair Investment Management LLC now owns 2,222,107 shares of the biotechnology company’s stock worth $80,018,000 after buying an additional 11,178 shares in the last quarter. Finally, Congress Asset Management Co. increased its holdings in shares of Vericel by 11.4% during the fourth quarter. Congress Asset Management Co. now owns 1,664,578 shares of the biotechnology company’s stock worth $59,941,000 after buying an additional 169,971 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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