Brokerages Set Vericel Co. (NASDAQ:VCEL) PT at $62.14

Vericel Co. (NASDAQ:VCEL) has earned an average rating of “Buy” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $63.14.

A number of research firms recently issued reports on VCEL. Stephens reiterated an “overweight” rating and set a $65.00 price objective on shares of Vericel in a report on Wednesday, January 15th. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target on shares of Vericel in a research note on Wednesday, January 15th. Truist Financial boosted their price objective on shares of Vericel from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group raised their target price on shares of Vericel from $64.00 to $67.00 and gave the company a “buy” rating in a research report on Monday. Finally, BTIG Research boosted their price target on shares of Vericel from $56.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th.

Vericel Stock Performance

Shares of VCEL opened at $59.43 on Friday. The firm’s 50 day moving average price is $57.70 and its two-hundred day moving average price is $50.91. Vericel has a twelve month low of $39.12 and a twelve month high of $61.99. The firm has a market cap of $2.93 billion, a P/E ratio of 990.67 and a beta of 1.72.

Vericel (NASDAQ:VCEL) last announced its earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $55.32 million. On average, sell-side analysts anticipate that Vericel will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Vericel

In related news, insider Jonathan Mark Hopper sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 58,371 shares of the company’s stock, valued at approximately $3,427,545.12. The trade was a 14.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert L. Md Zerbe sold 2,500 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $60.00, for a total value of $150,000.00. Following the sale, the director now directly owns 26,595 shares of the company’s stock, valued at $1,595,700. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,008 shares of company stock worth $1,132,129 in the last ninety days. Insiders own 7.20% of the company’s stock.

Institutional Trading of Vericel

Several hedge funds and other institutional investors have recently modified their holdings of VCEL. Wellington Management Group LLP lifted its position in Vericel by 214.0% during the third quarter. Wellington Management Group LLP now owns 587,857 shares of the biotechnology company’s stock worth $24,837,000 after acquiring an additional 400,667 shares during the last quarter. Stifel Financial Corp lifted 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 worth $1,186,000 after purchasing an additional 8,020 shares during the last quarter. Geode Capital Management LLC boosted its stake in Vericel by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,154,053 shares of the biotechnology company’s stock valued at $48,768,000 after purchasing an additional 9,613 shares during the period. Intech Investment Management LLC bought a new stake in Vericel in the 3rd quarter valued at $563,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Vericel by 4.6% in the 3rd 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 buying an additional 47,108 shares in the last quarter.

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.