Vericel (NASDAQ:VCEL) Price Target Raised to $68.00

Vericel (NASDAQ:VCEL) had its target price raised by Stephens from $55.00 to $68.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Several other equities analysts have also weighed in on VCEL. Canaccord Genuity Group set a $60.00 price objective on shares of Vericel in a research report on Thursday, July 30th. TD Cowen increased their price objective on Vericel from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Wall Street Zen upgraded shares of Vericel from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 7th. Truist Financial increased their price target on Vericel from $52.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, November 6th. Finally, HC Wainwright lifted their price objective on Vericel from $72.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $62.00.

Vericel Stock Down 3.4%

Shares of VCEL stock opened at $57.42 on Tuesday. Vericel has a fifty-two week low of $28.95 and a fifty-two week high of $59.75. The stock has a market capitalization of $2.93 billion, a P/E ratio of 89.72 and a beta of 1.08. The stock has a 50-day simple moving average of $42.45 and a 200 day simple moving average of $39.30.

Vericel (NASDAQ:VCEL) last released its earnings results on Thursday, November 5th. The biotechnology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.06 by $0.21. Vericel had a net margin of 10.27% and a return on equity of 9.09%. The business had revenue of $85.37 million during the quarter, compared to analyst estimates of $77.95 million. During the same period in the prior year, the business earned $0.10 earnings per share. The business’s quarterly revenue was up 26.5% on a year-over-year basis. On average, sell-side analysts anticipate that Vericel will post 0.78 earnings per share for the current year.

Insider Activity at Vericel

In related news, insider Jonathan Siegal sold 1,500 shares of Vericel stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $52.90, for a total transaction of $79,350.00. Following the completion of the transaction, the insider owned 1,259 shares of the company’s stock, valued at $66,601.10. This trade represents a 54.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert L. Md Zerbe sold 3,000 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $52.23, for a total transaction of $156,690.00. Following the completion of the sale, the director owned 32,995 shares of the company’s stock, valued at $1,723,328.85. The trade was a 8.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 49,008 shares of company stock valued at $2,701,078 in the last quarter. 7.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vericel

Institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its holdings in shares of Vericel by 24.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,194 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 237 shares during the period. GAMMA Investing LLC lifted its stake in shares of Vericel by 17.7% in the second quarter. GAMMA Investing LLC now owns 1,886 shares of the biotechnology company’s stock worth $84,000 after buying an additional 283 shares in the last quarter. Kopp Family Office LLC grew its stake in shares of Vericel by 0.6% in the third quarter. Kopp Family Office LLC now owns 51,352 shares of the biotechnology company’s stock worth $2,061,000 after acquiring an additional 299 shares during the period. Allspring Global Investments Holdings LLC increased its position in Vericel by 0.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 157,081 shares of the biotechnology company’s stock worth $6,195,000 after buying an additional 435 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in Vericel by 2.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 23,079 shares of the biotechnology company’s stock valued at $1,027,000 after buying an additional 500 shares in the last quarter.

About Vericel

Vericel Corporation is a biopharmaceutical company focused on developing and commercializing cell therapies and other treatments for serious conditions. Based in Cambridge, Massachusetts, the company markets its products primarily in the United States. Its products include MACI, an implant made from a patient’s own cultured cartilage cells used to repair certain cartilage defects in the knee, and Epicel, a cultured skin graft used to treat patients with deep burns. Vericel also commercializes NexoBrid in the United States, an enzyme-based treatment for removing dead tissue from severe thermal burns.