Brokers Issue Forecasts for Vericel Corp’s FY2018 Earnings (VCEL)
Vericel Corp (NASDAQ:VCEL) – Equities researchers at Leerink Swann upped their FY2018 earnings per share estimates for Vericel in a note issued to investors on Tuesday, November 6th. Leerink Swann analyst D. Antalffy now expects that the biotechnology company will post earnings per share of ($0.22) for the year, up from their prior forecast of ($0.30). Leerink Swann also issued estimates for Vericel’s Q1 2019 earnings at ($0.05) EPS, Q2 2019 earnings at ($0.05) EPS, Q3 2019 earnings at $0.02 EPS, FY2019 earnings at $0.05 EPS and FY2022 earnings at $0.73 EPS.
VCEL has been the topic of several other reports. Needham & Company LLC raised their target price on shares of Vericel to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, November 6th. BTIG Research reissued a “buy” rating and issued a $17.00 target price on shares of Vericel in a research report on Tuesday, August 7th. LADENBURG THALM/SH SH upgraded shares of Vericel from a “neutral” rating to a “buy” rating in a report on Monday, July 16th. Finally, BidaskClub lowered shares of Vericel from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the stock. Vericel presently has a consensus rating of “Buy” and an average price target of $16.75.
Vericel (NASDAQ:VCEL) last released its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.09. Vericel had a negative net margin of 15.80% and a negative return on equity of 17.39%. The business had revenue of $22.50 million for the quarter, compared to analysts’ expectations of $18.14 million. Vericel’s quarterly revenue was up 57.3% compared to the same quarter last year.
Several institutional investors and hedge funds have recently bought and sold shares of VCEL. Northern Trust Corp raised its stake in shares of Vericel by 18.8% during the first quarter. Northern Trust Corp now owns 75,528 shares of the biotechnology company’s stock valued at $751,000 after purchasing an additional 11,960 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Vericel during the first quarter valued at approximately $845,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Vericel by 60.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,005 shares of the biotechnology company’s stock valued at $159,000 after purchasing an additional 6,000 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Vericel during the first quarter valued at approximately $216,000. Finally, Millennium Management LLC raised its stake in shares of Vericel by 528.6% during the first quarter. Millennium Management LLC now owns 619,736 shares of the biotechnology company’s stock valued at $6,166,000 after purchasing an additional 521,141 shares during the period. Institutional investors own 76.57% of the company’s stock.
In related news, Director Steven C. Gilman sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $12.03, for a total value of $108,270.00. Following the transaction, the director now owns 9,000 shares in the company, valued at $108,270. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dominick Colangelo sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $15.39, for a total transaction of $769,500.00. The disclosure for this sale can be found here. Insiders sold 164,000 shares of company stock worth $2,379,270 in the last 90 days. 3.30% of the stock is currently owned by insiders.
Vericel Company Profile
Vericel Corporation, a commercial-stage biopharmaceutical company, researches, develops, manufactures, markets, and sells patient-specific expanded cellular therapies to repair and regenerate damaged tissues and organs. It markets autologous cell therapy products, including MACI, an autologous cellularized scaffold product for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; and Carticel, an autologous chondrocyte implant for the repair of symptomatic cartilage defects of the femoral condyle caused by acute or repetitive trauma in patients that have inadequate response to a prior arthroscopic or other surgical repair procedure.
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