Vericel Co. (NASDAQ:VCEL) Receives $61.14 Consensus Price Target from Analysts

Vericel Co. (NASDAQ:VCEL) has been given a consensus rating of “Buy” by the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $61.14.

A number of research firms recently commented on VCEL. HC Wainwright reissued a “buy” rating and issued a $60.00 price target on shares of Vericel in a research report on Friday, February 28th. Stephens reiterated an “overweight” rating and set a $67.00 price target on shares of Vericel in a research report on Thursday, May 22nd. Truist Financial decreased their price objective on Vericel from $61.00 to $51.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Finally, Wall Street Zen cut Vericel from a “hold” rating to a “sell” rating in a report on Monday, May 12th.

Vericel Price Performance

Shares of VCEL stock opened at $44.18 on Friday. The business’s 50 day simple moving average is $41.34 and its 200 day simple moving average is $49.95. Vericel has a one year low of $37.39 and a one year high of $63.00. The stock has a market capitalization of $2.22 billion, a PE ratio of 736.46 and a beta of 1.33.

Vericel (NASDAQ:VCEL) last issued its quarterly earnings results on Thursday, May 8th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.14). Vericel had a net margin of 1.56% and a return on equity of 1.48%. The business had revenue of $52.60 million during the quarter, compared to analyst estimates of $53.86 million. During the same period last year, the firm posted ($0.08) earnings per share. Vericel’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, research analysts expect that Vericel will post 0.14 earnings per share for the current year.

Insider Transactions at Vericel

In related news, CEO Dominick Colangelo sold 24,850 shares of the company’s stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $41.89, for a total transaction of $1,040,966.50. Following the completion of the sale, the chief executive officer now owns 260,354 shares in the company, valued at approximately $10,906,229.06. This represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Vericel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in shares of Vericel during the 1st quarter worth approximately $812,000. Intech Investment Management LLC boosted its position in shares of Vericel by 51.8% in the 1st quarter. Intech Investment Management LLC now owns 53,533 shares of the biotechnology company’s stock worth $2,389,000 after purchasing an additional 18,274 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Vericel by 9.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,028 shares of the biotechnology company’s stock worth $5,490,000 after acquiring an additional 10,191 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Vericel by 13.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 371,486 shares of the biotechnology company’s stock valued at $16,576,000 after buying an additional 44,333 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 buying an additional 1,847 shares during the period.

Vericel Company Profile

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.