Vericel (NASDAQ:VCEL) Downgraded by Wall Street Zen to Hold

Vericel (NASDAQ:VCEL) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other research analysts have also weighed in on the stock. Zacks Research lowered shares of Vericel from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Vericel in a research report on Monday, December 29th. HC Wainwright upped their price target on Vericel from $60.00 to $64.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Finally, Truist Financial dropped their price objective on Vericel from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Vericel has a consensus rating of “Moderate Buy” and an average price target of $58.50.

Vericel Stock Performance

Vericel stock opened at $33.71 on Friday. The company has a market cap of $1.71 billion, a P/E ratio of 108.74 and a beta of 1.22. Vericel has a one year low of $29.24 and a one year high of $50.36. The business has a fifty day moving average of $36.80 and a two-hundred day moving average of $36.06.

Vericel (NASDAQ:VCEL) last posted its quarterly earnings results on Thursday, February 26th. The biotechnology company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. The business had revenue of $92.92 million for the quarter, compared to analysts’ expectations of $92.66 million. Vericel had a net margin of 5.98% and a return on equity of 5.17%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 EPS. Sell-side analysts predict that Vericel will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VCEL. AQR Capital Management LLC purchased a new position in Vericel during the first quarter worth $242,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Vericel by 6.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,445 shares of the biotechnology company’s stock valued at $1,403,000 after acquiring an additional 1,847 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Vericel by 13.6% in the first quarter. Goldman Sachs Group Inc. now owns 371,486 shares of the biotechnology company’s stock valued at $16,576,000 after purchasing an additional 44,333 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Vericel by 9.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,028 shares of the biotechnology company’s stock valued at $5,490,000 after purchasing an additional 10,191 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Vericel by 11.3% during the second quarter. Envestnet Asset Management Inc. now owns 227,634 shares of the biotechnology company’s stock worth $9,686,000 after buying an additional 23,124 shares during the period.

Vericel Company Profile

Vericel Corporation is a biotechnology company specializing in the development, manufacturing and commercialization of cell-based therapies for patients with severe diseases and conditions. The company’s expertise lies in regenerative medicine, where it harnesses the power of autologous cell processing to create products designed to restore function and promote healing in damaged tissues.

Vericel currently markets two FDA-approved therapies. MACI® (autologous cultured chondrocytes on porcine collagen membrane) is indicated for the repair of symptomatic cartilage defects of the knee in adult patients.