Vericel (NASDAQ:VCEL) Upgraded by StockNews.com to Hold

Vericel (NASDAQ:VCEL) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Monday.

A number of other research firms have also weighed in on VCEL. HC Wainwright lifted their price objective on Vericel from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Canaccord Genuity Group began coverage on shares of Vericel in a report on Friday, August 9th. They set a “buy” rating and a $57.00 target price for the company. BTIG Research lowered their price target on shares of Vericel from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Canaccord Genuity Group assumed coverage on shares of Vericel in a research report on Friday, August 9th. They set a “buy” rating and a $57.00 price target on the stock. Finally, Truist Financial upped their price objective on shares of Vericel from $56.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Vericel presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.75.

Vericel Trading Down 2.2 %

Shares of VCEL traded down $0.94 during midday trading on Monday, hitting $42.25. 416,795 shares of the company’s stock traded hands, compared to its average volume of 438,827. The firm’s fifty day moving average is $47.63 and its 200-day moving average is $47.42. Vericel has a 1 year low of $30.18 and a 1 year high of $54.10. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -4,225.00 and a beta of 1.67.

Vericel (NASDAQ:VCEL) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The firm had revenue of $52.70 million for the quarter, compared to the consensus estimate of $52.59 million. Vericel had a net margin of 0.37% and a return on equity of 0.35%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.11) earnings per share. On average, equities research analysts anticipate that Vericel will post 0.12 EPS for the current year.

Insider Activity

In related news, CEO Dominick Colangelo sold 17,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $51.40, for a total value of $899,500.00. Following the sale, the chief executive officer now owns 220,937 shares of the company’s stock, valued at $11,356,161.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Joseph Anthony Mara, Jr. sold 5,000 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the transaction, the chief financial officer now directly owns 14,436 shares of the company’s stock, valued at approximately $721,800. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Dominick Colangelo sold 17,500 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $51.40, for a total value of $899,500.00. Following the sale, the chief executive officer now directly owns 220,937 shares in the company, valued at approximately $11,356,161.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,045 shares of company stock worth $1,956,725. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vericel

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its position in shares of Vericel by 9.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,484 shares of the biotechnology company’s stock worth $114,000 after buying an additional 220 shares during the last quarter. MCF Advisors LLC boosted its stake in Vericel by 86.1% in the first quarter. MCF Advisors LLC now owns 482 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 223 shares in the last quarter. Swiss National Bank grew its holdings in shares of Vericel by 0.4% during the first quarter. Swiss National Bank now owns 89,500 shares of the biotechnology company’s stock worth $4,656,000 after purchasing an additional 400 shares during the last quarter. PFG Investments LLC grew its holdings in shares of Vericel by 6.2% during the second quarter. PFG Investments LLC now owns 6,850 shares of the biotechnology company’s stock worth $314,000 after purchasing an additional 400 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Vericel by 3.3% during the second quarter. Arizona State Retirement System now owns 12,866 shares of the biotechnology company’s stock worth $590,000 after purchasing an additional 406 shares in the last quarter.

About Vericel

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.