FY2024 EPS Estimates for Vericel Reduced by HC Wainwright

Vericel Co. (NASDAQ:VCEL) – HC Wainwright reduced their FY2024 earnings estimates for shares of Vericel in a note issued to investors on Wednesday, January 15th. HC Wainwright analyst S. Ramakanth now forecasts that the biotechnology company will earn $0.16 per share for the year, down from their prior forecast of $0.21. HC Wainwright currently has a “Buy” rating and a $60.00 target price on the stock. The consensus estimate for Vericel’s current full-year earnings is $0.13 per share. HC Wainwright also issued estimates for Vericel’s Q4 2024 earnings at $0.33 EPS, Q1 2025 earnings at $0.03 EPS, Q2 2025 earnings at $0.00 EPS and FY2029 earnings at $2.80 EPS.

A number of other analysts have also commented on the company. BTIG Research boosted their price objective on Vericel from $56.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Stephens reiterated an “overweight” rating and set a $65.00 price target on shares of Vericel in a report on Wednesday. StockNews.com upgraded Vericel from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. Truist Financial upped their target price on shares of Vericel from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $60.00 target price on shares of Vericel in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.14.

Vericel Price Performance

VCEL opened at $56.35 on Thursday. Vericel has a fifty-two week low of $37.35 and a fifty-two week high of $61.49. The firm has a market capitalization of $2.78 billion, a PE ratio of 939.32 and a beta of 1.72. The company’s 50-day moving average is $56.80 and its 200 day moving average is $49.89.

Vericel (NASDAQ:VCEL) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. Vericel had a net margin of 1.56% and a return on equity of 1.48%. The firm had revenue of $57.91 million for the quarter, compared to the consensus estimate of $55.32 million.

Hedge Funds Weigh In On Vericel

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in shares of Vericel by 214.0% in the third quarter. Wellington Management Group LLP now owns 587,857 shares of the biotechnology company’s stock valued at $24,837,000 after purchasing an additional 400,667 shares during the period. Stifel Financial Corp raised its holdings in Vericel by 40.0% during the 3rd quarter. Stifel Financial Corp now owns 28,073 shares of the biotechnology company’s stock valued at $1,186,000 after acquiring an additional 8,020 shares during the period. Geode Capital Management LLC lifted its position in shares of Vericel by 0.8% during the third quarter. Geode Capital Management LLC now owns 1,154,053 shares of the biotechnology company’s stock worth $48,768,000 after acquiring an additional 9,613 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Vericel during the third quarter worth $563,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Vericel by 4.6% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,048 shares of the biotechnology company’s stock valued at $45,590,000 after purchasing an additional 47,108 shares in the last quarter.

Insider Buying and Selling

In other Vericel news, insider Jonathan Mark Hopper sold 10,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $58.72, for a total transaction of $587,200.00. Following the completion of the transaction, the insider now directly owns 58,371 shares of the company’s stock, valued at approximately $3,427,545.12. This represents a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul K. Wotton sold 2,600 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $58.72, for a total value of $152,672.00. Following the completion of the sale, the director now owns 27,402 shares in the company, valued at approximately $1,609,045.44. The trade was a 8.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,100 shares of company stock worth $889,872. Insiders own 7.20% of the company’s stock.

About Vericel

Vericel Corporation, a commercial-stage biopharmaceutical company, engages in the research, development, manufacture, and distribution of cellular therapies for sports medicine and severe burn care markets in North America. The company markets autologous cell therapy products comprising MACI, an autologous cultured chondrocytes on porcine collagen membrane for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns; and NexoBrid, a biological orphan product for eschar removal in adults with deep partial-thickness and/or full-thickness thermal burns.