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

Vericel Co. (NASDAQ:VCEL) has received an average rating of “Buy” from the seven brokerages that are presently covering the company, Marketbeat reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $61.14.

VCEL has been the subject of a number of analyst reports. BTIG Research raised their price target on Vericel from $56.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Stephens upgraded shares of Vericel to a “strong-buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group reiterated a “buy” rating and issued a $60.00 price target on shares of Vericel in a research note on Tuesday, November 19th. StockNews.com upgraded shares of Vericel from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. Finally, Truist Financial raised their target price on shares of Vericel from $61.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th.

Vericel Trading Down 0.1 %

Shares of VCEL opened at $59.50 on Wednesday. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 991.83 and a beta of 1.72. Vericel has a 12 month low of $36.35 and a 12 month high of $61.49. The firm has a fifty day simple moving average of $56.02 and a 200 day simple moving average of $49.60.

Vericel (NASDAQ:VCEL) last posted its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $57.91 million during the quarter, compared to the consensus estimate of $55.32 million. Vericel had a net margin of 1.56% and a return on equity of 1.48%. As a group, research analysts predict that Vericel will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Steven C. Gilman sold 5,833 shares of Vericel stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $41.36, for a total transaction of $241,252.88. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $454,960. This trade represents a 34.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Dominick Colangelo sold 17,500 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $41.38, for a total value of $724,150.00. Following the completion of the transaction, the chief executive officer now directly owns 220,937 shares in the company, valued at approximately $9,142,373.06. This represents a 7.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,433 shares of company stock valued at $1,855,275. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Vericel

A number of hedge funds and other institutional investors have recently modified their holdings of VCEL. International Assets Investment Management LLC raised its stake in Vericel by 4,126.7% in the 3rd quarter. International Assets Investment Management LLC now owns 634 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 619 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Vericel by 48.1% during the third quarter. Farther Finance Advisors LLC now owns 1,247 shares of the biotechnology company’s stock worth $53,000 after purchasing an additional 405 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Vericel by 22.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,773 shares of the biotechnology company’s stock valued at $77,000 after buying an additional 322 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Vericel in the third quarter valued at approximately $92,000. Finally, Quantbot Technologies LP acquired a new stake in Vericel during the third quarter worth approximately $146,000.

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.