Vericel (NASDAQ:VCEL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Vericel (NASDAQ:VCEL – Free Report) from a buy rating to a strong-buy rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other research analysts have also recently weighed in on VCEL. HC Wainwright lifted their price objective on Vericel from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Vericel in a research note on Thursday, October 29th. Truist Financial lifted their price target on shares of Vericel from $52.00 to $65.00 and gave the company a “buy” rating in a report on Friday. Canaccord Genuity Group set a $60.00 price target on shares of Vericel in a research report on Thursday, July 30th. Finally, TD Cowen increased their price objective on shares of Vericel from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.80.

Check Out Our Latest Analysis on VCEL

Vericel Price Performance

NASDAQ:VCEL opened at $58.39 on Friday. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 96.77 and a beta of 1.08. Vericel has a one year low of $28.95 and a one year high of $59.48. The business has a fifty day moving average price of $41.36 and a 200-day moving average price of $39.00.

Vericel (NASDAQ:VCEL – Get Free Report) last released its earnings results on Thursday, November 5th. The biotechnology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.21. The company had revenue of $85.37 million for the quarter, compared to the consensus estimate of $77.95 million. Vericel had a return on equity of 6.91% and a net margin of 7.91%. Vericel’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 earnings per share. On average, equities research analysts expect that Vericel will post 0.54 earnings per share for the current fiscal year.

Insider Transactions at Vericel

In related news, Director Robert Zerbe sold 3,000 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $52.23, for a total transaction of $156,690.00. Following the completion of the sale, the director owned 32,995 shares in the company, valued at approximately $1,723,328.85. This trade represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan Siegal sold 1,500 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $52.90, for a total value of $79,350.00. Following the sale, the insider owned 1,259 shares of the company’s stock, valued at $66,601.10. This represents a 54.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 22,000 shares of company stock valued at $1,128,340 over the last 90 days. Company insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Vericel

Institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC boosted its position in shares of Vericel by 41.7% during the third quarter. Intech Investment Management LLC now owns 91,026 shares of the biotechnology company’s stock worth $3,654,000 after acquiring an additional 26,790 shares during the last quarter. Hantz Financial Services Inc. grew its stake in Vericel by 24.8% during the third quarter. Hantz Financial Services Inc. now owns 1,194 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 237 shares in the last quarter. Virtus Advisers LLC increased its holdings in Vericel by 77.7% in the 3rd quarter. Virtus Advisers LLC now owns 27,661 shares of the biotechnology company’s stock valued at $1,110,000 after acquiring an additional 12,091 shares during the last quarter. Aberdeen Group plc increased its holdings in Vericel by 204.7% in the 3rd quarter. Aberdeen Group plc now owns 2,164,250 shares of the biotechnology company’s stock valued at $86,873,000 after acquiring an additional 1,454,012 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in Vericel by 53.0% in the 3rd quarter. Allworth Financial LP now owns 2,052 shares of the biotechnology company’s stock valued at $91,000 after acquiring an additional 711 shares during the last quarter.

About Vericel

(Get Free Report)

Vericel Corporation is a biopharmaceutical company focused on developing and commercializing cell therapies and other treatments for serious conditions. Based in Cambridge, Massachusetts, the company markets its products primarily in the United States.

Its products include MACI, an implant made from a patient’s own cultured cartilage cells used to repair certain cartilage defects in the knee, and Epicel, a cultured skin graft used to treat patients with deep burns. Vericel also commercializes NexoBrid in the United States, an enzyme-based treatment for removing dead tissue from severe thermal burns.

The company traces its roots to Aastrom Biosciences and adopted the Vericel name in 2014.

Further Reading

Analyst Recommendations for Vericel (NASDAQ:VCEL)

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