Vericel Corporation (NASDAQ:VCEL) Stock Has Average Price Target of $57.20

Vericel Corporation (NASDAQ:VCEL) has been given an average recommendation of “Moderate Buy” by the six analysts that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $57.20.

A number of research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $70.00 price objective on shares of Vericel in a research note on Tuesday, July 28th. Wall Street Zen raised Vericel from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. TD Cowen increased their target price on Vericel from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Canaccord Genuity Group set a $60.00 price target on Vericel in a report on Thursday, July 30th. Finally, Truist Financial lowered their price target on Vericel from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, October 14th.

Vericel Stock Up 0.6%

Shares of VCEL opened at $40.37 on Tuesday. The business’s 50 day moving average price is $40.86 and its 200-day moving average price is $39.81. Vericel has a 52 week low of $28.95 and a 52 week high of $49.32. The stock has a market cap of $2.07 billion, a P/E ratio of 85.90 and a beta of 1.02.

Vericel (NASDAQ:VCEL) last posted its quarterly earnings results on Thursday, July 30th. The biotechnology company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.07. Vericel had a return on equity of 6.91% and a net margin of 7.91%. The company had revenue of $77.46 million for the quarter, compared to the consensus estimate of $72.70 million. During the same quarter in the prior year, the business posted ($0.01) EPS. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. On average, equities analysts anticipate that Vericel will post 0.54 EPS for the current year.

Insider Buying and Selling

In related news, insider Jonathan Siegal sold 4,500 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $48.90, for a total transaction of $220,050.00. Following the sale, the insider directly owned 1,078 shares of the company’s stock, valued at approximately $52,714.20. This represents a 80.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Juncture Wealth Strategies LLC lifted its stake in shares of Vericel by 19.9% in the third quarter. Juncture Wealth Strategies LLC now owns 9,929 shares of the biotechnology company’s stock worth $399,000 after buying an additional 1,646 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Vericel during the second quarter valued at approximately $215,000. MCF Advisors LLC increased its position in shares of Vericel by 293.0% during the second quarter. MCF Advisors LLC now owns 782 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 583 shares in the last quarter. Scholtz & Company LLC bought a new stake in shares of Vericel during the second quarter valued at approximately $2,287,000. Finally, Engineers Gate Manager LP purchased a new position in Vericel in the 2nd quarter worth approximately $747,000.

Vericel Company Profile

Vericel Corporation is a commercial-stage biopharmaceutical company focused on developing and marketing advanced cell therapies and specialty biologic products for the treatment of severe medical conditions. The company’s products are designed to support tissue repair and regeneration, with an emphasis on orthopedic and burn-care applications.

Vericel’s primary product is MACI, an autologous cellularized scaffold used to repair full-thickness cartilage defects in the knee. The therapy is made from a patient’s own cartilage cells, which are expanded and seeded onto a collagen membrane before implantation.