Vericel (NASDAQ:VCEL) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Vericel (NASDAQ:VCEL) had its target price raised by research analysts at Canaccord Genuity Group from $64.00 to $67.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 12.74% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. StockNews.com raised shares of Vericel from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. Truist Financial boosted their target price on shares of Vericel from $61.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. HC Wainwright restated a “buy” rating and issued a $60.00 price target on shares of Vericel in a research note on Wednesday, January 15th. Stephens reiterated an “overweight” rating and set a $65.00 price objective on shares of Vericel in a research report on Wednesday, January 15th. Finally, BTIG Research lifted their price objective on shares of Vericel from $56.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.14.

Vericel Stock Performance

NASDAQ VCEL opened at $59.43 on Monday. The firm has a market capitalization of $2.93 billion, a PE ratio of 990.67 and a beta of 1.72. Vericel has a one year low of $39.12 and a one year high of $61.99. The company has a 50-day simple moving average of $57.70 and a 200-day simple moving average of $50.91.

Vericel (NASDAQ:VCEL) last posted its earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $57.91 million during the quarter, compared to analyst estimates of $55.32 million. Vericel had a return on equity of 1.48% and a net margin of 1.56%. Equities analysts forecast that Vericel will post 0.14 earnings per share for the current year.

Insider Activity

In other news, Director Robert L. Md Zerbe sold 2,500 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $60.00, for a total value of $150,000.00. Following the completion of the sale, the director now owns 26,595 shares in the company, valued at $1,595,700. This represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan Siegal sold 3,908 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $61.99, for a total value of $242,256.92. Following the sale, the insider now owns 1,206 shares of the company’s stock, valued at $74,759.94. The trade was a 76.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,008 shares of company stock worth $1,132,129. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Vericel

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in Vericel by 4,126.7% in the third quarter. International Assets Investment Management LLC now owns 634 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 619 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Vericel during the fourth quarter valued at about $48,000. Farther Finance Advisors LLC grew its holdings in shares of Vericel by 48.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,247 shares of the biotechnology company’s stock worth $53,000 after purchasing an additional 405 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Vericel by 22.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,773 shares of the biotechnology company’s stock worth $77,000 after buying an additional 322 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Vericel during the 3rd quarter valued at about $92,000.

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.