Vericel Corporation (NASDAQ:VCEL) Stock Has Consensus Target Price of $58.40 According to Brokerages

Shares of Vericel Corporation (NASDAQ:VCEL – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $58.40.

VCEL has been the subject of several research analyst reports. Wall Street Zen raised shares of Vericel from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Truist Financial restated a “buy” rating and set a $58.00 price objective (up from $54.00) on shares of Vericel in a report on Friday, July 31st. HC Wainwright reaffirmed a “buy” rating and set a $70.00 target price on shares of Vericel in a research report on Tuesday, July 28th. Canaccord Genuity Group set a $60.00 target price on Vericel in a report on Thursday, July 30th. Finally, TD Cowen increased their price target on Vericel from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, July 31st.

Check Out Our Latest Stock Report on VCEL

Insider Buying and Selling at Vericel

In related news, insider Jonathan Siegal sold 4,500 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $48.90, for a total value of $220,050.00. Following the completion of the sale, the insider directly owned 1,078 shares of the company’s stock, valued at $52,714.20. This represents a 80.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VCEL. BlackRock Inc. purchased a new stake in shares of Vericel in the 2nd quarter worth approximately $360,023,000. William Blair Investment Management LLC bought a new position in Vericel in the second quarter worth approximately $88,662,000. Conestoga Capital Advisors LLC lifted its holdings in 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 during the period. GW&K Investment Management LLC lifted its holdings in Vericel by 22.5% during the fourth quarter. GW&K Investment Management LLC now owns 1,580,967 shares of the biotechnology company’s stock worth $56,931,000 after buying an additional 290,795 shares during the period. Finally, Bank of America Corp DE bought a new stake in Vericel during the 2nd quarter valued at $45,210,000.

Vericel Trading Down 1.7%

NASDAQ VCEL opened at $39.44 on Friday. The stock has a market cap of $2.02 billion, a PE ratio of 83.92 and a beta of 1.02. Vericel has a 12 month low of $28.95 and a 12 month high of $49.32. The company’s 50-day moving average price is $42.14 and its 200-day moving average price is $39.08.

Vericel (NASDAQ:VCEL – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The biotechnology company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. The company had revenue of $77.46 million during the quarter, compared to analyst estimates of $72.70 million. Vericel had a net margin of 7.91% and a return on equity of 6.91%. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS. As a group, sell-side analysts forecast that Vericel will post 0.54 earnings per share for the current year.

About Vericel

(Get Free Report)

Vericel Corporation is a commercial-stage biopharmaceutical company focused on developing and marketing advanced cell therapies and specialty biologic products for the treatment of severe medical conditions. The company’s products are designed to support tissue repair and regeneration, with an emphasis on orthopedic and burn-care applications.

Vericel’s primary product is MACI, an autologous cellularized scaffold used to repair full-thickness cartilage defects in the knee. The therapy is made from a patient’s own cartilage cells, which are expanded and seeded onto a collagen membrane before implantation.

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Analyst Recommendations for Vericel (NASDAQ:VCEL)

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