Truist Financial Reaffirms “Buy” Rating for Vericel (NASDAQ:VCEL)

Vericel (NASDAQ:VCEL)‘s stock had its “buy” rating reiterated by stock analysts at Truist Financial in a research note issued on Monday,Benzinga reports. They presently have a $61.00 price objective on the biotechnology company’s stock, down from their previous price objective of $67.00. Truist Financial’s price target would suggest a potential upside of 19.28% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $60.00 price objective on shares of Vericel in a report on Friday, February 28th. StockNews.com downgraded shares of Vericel from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Stephens reaffirmed an “overweight” rating and set a $65.00 price target on shares of Vericel in a research report on Wednesday, January 15th. BTIG Research upped their price objective on Vericel from $56.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Canaccord Genuity Group boosted their target price on shares of Vericel from $64.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $62.29.

Vericel Stock Up 3.3 %

NASDAQ:VCEL opened at $51.14 on Monday. The stock’s fifty day simple moving average is $56.93 and its 200-day simple moving average is $51.93. The firm has a market capitalization of $2.52 billion, a P/E ratio of 852.48 and a beta of 1.72. Vericel has a 12-month low of $39.12 and a 12-month high of $63.00.

Insider Activity at Vericel

In other news, insider Jonathan Siegal sold 3,908 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $61.99, for a total transaction of $242,256.92. Following the completion of the sale, the insider now owns 1,206 shares of the company’s stock, valued at approximately $74,759.94. This represents a 76.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert L. Md Zerbe sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $62.50, for a total transaction of $156,250.00. Following the sale, the director now owns 26,595 shares in the company, valued at $1,662,187.50. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,500 shares of company stock worth $466,200. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Vericel

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its stake in shares of Vericel by 4,126.7% in the 3rd quarter. International Assets Investment Management LLC now owns 634 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 619 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Vericel in the fourth quarter valued at about $48,000. Farther Finance Advisors LLC raised its stake in 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 acquiring an additional 405 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Vericel in the fourth quarter worth about $57,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Vericel by 511.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,265 shares of the biotechnology company’s stock worth $70,000 after acquiring an additional 1,058 shares during 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.