Vericel Co. (NASDAQ:VCEL) Receives $57.71 Consensus Target Price from Brokerages

Shares of Vericel Co. (NASDAQ:VCEL) have been assigned a consensus rating of “Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have covered the stock in the last year is $57.71.

A number of equities research analysts have commented on the company. HC Wainwright increased their price target on Vericel from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Canaccord Genuity Group started coverage on Vericel in a research note on Friday, August 9th. They issued a “buy” rating and a $57.00 price objective for the company. TD Cowen raised their price objective on Vericel from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. StockNews.com cut Vericel from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. Finally, Truist Financial raised their price objective on Vericel from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th.

Vericel Price Performance

Shares of VCEL stock opened at $44.04 on Friday. The stock’s 50-day moving average is $44.74 and its 200 day moving average is $46.34. Vericel has a 1-year low of $32.28 and a 1-year high of $54.10. The company has a market cap of $2.16 billion, a P/E ratio of -4,404.00 and a beta of 1.67.

Vericel (NASDAQ:VCEL) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.10) 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 business posted ($0.11) earnings per share. The firm’s revenue was up 14.8% compared to the same quarter last year. On average, analysts anticipate that Vericel will post 0.12 EPS for the current year.

Insider Activity at Vericel

In related news, Director Steven C. Gilman sold 5,833 shares of Vericel stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $40.35, for a total transaction of $235,361.55. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $443,850. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Vericel news, CEO Dominick Colangelo sold 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $41.38, for a total value of $724,150.00. Following the sale, the chief executive officer now directly owns 220,937 shares of the company’s stock, valued at approximately $9,142,373.06. This trade represents a 0.00 % 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 hyperlink. Also, Director Steven C. Gilman sold 5,833 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $40.35, for a total value of $235,361.55. Following the completion of the sale, the director now directly owns 11,000 shares in the company, valued at approximately $443,850. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,166 shares of company stock worth $1,200,764. 5.20% of the stock is owned by corporate insiders.

Institutional Trading of Vericel

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Vericel by 1.2% in the first quarter. Vanguard Group Inc. now owns 3,413,442 shares of the biotechnology company’s stock valued at $177,567,000 after purchasing an additional 39,349 shares during the period. Conestoga Capital Advisors LLC boosted its stake in shares of Vericel by 1.7% in the third quarter. Conestoga Capital Advisors LLC now owns 2,075,730 shares of the biotechnology company’s stock worth $87,700,000 after acquiring an additional 34,360 shares during the last quarter. Congress Asset Management Co. boosted its stake in shares of Vericel by 37.4% in the third quarter. Congress Asset Management Co. now owns 1,291,720 shares of the biotechnology company’s stock worth $54,575,000 after acquiring an additional 351,550 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Vericel by 1.0% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,031,940 shares of the biotechnology company’s stock worth $47,346,000 after acquiring an additional 10,245 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in shares of Vericel by 7.9% in the second quarter. William Blair Investment Management LLC now owns 908,141 shares of the biotechnology company’s stock worth $41,666,000 after acquiring an additional 66,464 shares during 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.