Brokerages Set Vericel Co. (NASDAQ:VCEL) PT at $62.29

Shares of Vericel Co. (NASDAQ:VCEL) have been given a consensus rating of “Buy” by the seven research firms that are presently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $62.29.

Several research firms have commented on VCEL. Canaccord Genuity Group lifted their target price on shares of Vericel from $64.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. HC Wainwright reiterated a “buy” rating and set a $60.00 price target on shares of Vericel in a report on Friday, February 28th. Stephens restated an “overweight” rating and issued a $65.00 price objective on shares of Vericel in a research note on Wednesday, January 15th. StockNews.com upgraded Vericel from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Truist Financial restated a “buy” rating and set a $61.00 price target (down previously from $67.00) on shares of Vericel in a research report on Monday, March 3rd.

Insider Activity at Vericel

In related news, CEO Dominick Colangelo sold 26,592 shares of Vericel stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $45.78, for a total value of $1,217,381.76. Following the completion of the transaction, the chief executive officer now directly owns 259,997 shares in the company, valued at approximately $11,902,662.66. The trade was a 9.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan Siegal sold 1,092 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $61.99, for a total transaction of $67,693.08. Following the sale, the insider now directly owns 1,206 shares in the company, valued at $74,759.94. The trade was a 47.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,092 shares of company stock worth $1,683,582. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Vericel

Several hedge funds have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI purchased a new stake in Vericel during the 4th quarter worth about $48,000. GF Fund Management CO. LTD. purchased a new position in Vericel during the fourth quarter valued at approximately $57,000. Smartleaf Asset Management LLC grew its stake in Vericel by 511.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,265 shares of the biotechnology company’s stock valued at $70,000 after acquiring an additional 1,058 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in Vericel by 8.4% during the 4th quarter. Meeder Asset Management Inc. now owns 2,357 shares of the biotechnology company’s stock worth $129,000 after acquiring an additional 183 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in Vericel by 826.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,511 shares of the biotechnology company’s stock worth $138,000 after purchasing an additional 2,240 shares in the last quarter.

Vericel Price Performance

Shares of VCEL stock opened at $46.42 on Monday. The firm has a 50-day moving average of $53.73 and a 200-day moving average of $51.71. Vericel has a one year low of $39.12 and a one year high of $63.00. The company has a market cap of $2.32 billion, a P/E ratio of 773.80 and a beta of 1.78.

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.