Vericel Co. (NASDAQ:VCEL) Given Average Rating of “Buy” by Brokerages

Shares of Vericel Co. (NASDAQ:VCEL) have been given an average rating of “Buy” by the seven research firms that are covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $57.71.

VCEL has been the topic of several recent analyst reports. Canaccord Genuity Group assumed coverage on Vericel in a research note on Friday, August 9th. They issued a “buy” rating and a $57.00 price target on the stock. Truist Financial boosted their price objective on Vericel from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. TD Cowen boosted their price objective on Vericel from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. BTIG Research dropped their price target on Vericel from $56.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Finally, Canaccord Genuity Group initiated coverage on Vericel in a research note on Friday, August 9th. They set a “buy” rating and a $57.00 price target on the stock.

Insider Buying and Selling

In related news, Director Steven C. Gilman sold 5,833 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $41.36, for a total value of $241,252.88. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at $454,960. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Dominick Colangelo sold 17,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $41.38, for a total transaction of $724,150.00. Following the sale, the chief executive officer now directly owns 220,937 shares in the company, valued at approximately $9,142,373.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven C. Gilman sold 5,833 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $41.36, for a total transaction of $241,252.88. Following the completion of the sale, the director now directly owns 11,000 shares in the company, valued at $454,960. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,166 shares of company stock valued at $1,200,764 over the last ninety days. 5.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Vericel

Several institutional investors and hedge funds have recently made changes to their positions in VCEL. UniSuper Management Pty Ltd acquired a new stake in shares of Vericel in the first quarter valued at about $595,000. BNP Paribas Financial Markets boosted its holdings in shares of Vericel by 99.7% in the 1st quarter. BNP Paribas Financial Markets now owns 111,760 shares of the biotechnology company’s stock valued at $5,814,000 after buying an additional 55,796 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Vericel by 10.9% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,021,695 shares of the biotechnology company’s stock worth $53,149,000 after purchasing an additional 100,797 shares during the period. Silvercrest Asset Management Group LLC acquired a new stake in Vericel during the 1st quarter worth $6,538,000. Finally, Geneva Capital Management LLC boosted its holdings in shares of Vericel by 43.6% in the first quarter. Geneva Capital Management LLC now owns 679,165 shares of the biotechnology company’s stock valued at $35,330,000 after acquiring an additional 206,202 shares in the last quarter.

Vericel Price Performance

Shares of Vericel stock opened at $42.87 on Friday. The company has a market capitalization of $2.08 billion, a P/E ratio of -4,287.00 and a beta of 1.67. Vericel has a 1 year low of $32.28 and a 1 year high of $54.10. The business has a 50-day moving average of $45.03 and a two-hundred day moving average of $46.51.

Vericel (NASDAQ:VCEL) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10). Vericel had a return on equity of 0.35% and a net margin of 0.37%. The company had revenue of $52.70 million during the quarter, compared to analysts’ expectations of $52.59 million. During the same period last year, the firm posted ($0.11) earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. On average, equities analysts anticipate that Vericel will post 0.12 EPS for the current fiscal year.

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.