Vericel (NASDAQ:VCEL) Price Target Raised to $66.00

Vericel (NASDAQ:VCEL) had its target price lifted by BTIG Research from $56.00 to $66.00 in a research note published on Tuesday,Benzinga reports. BTIG Research currently has a buy rating on the biotechnology company’s stock.

A number of other brokerages have also recently issued reports on VCEL. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $60.00 target price on shares of Vericel in a report on Tuesday, November 19th. Stephens raised their price objective on shares of Vericel from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. TD Cowen raised their price objective on shares of Vericel from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. StockNews.com raised shares of Vericel from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, HC Wainwright reissued a “buy” rating and set a $60.00 price objective on shares of Vericel in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Vericel presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.71.

Vericel Stock Up 0.2 %

Shares of NASDAQ:VCEL opened at $58.75 on Tuesday. The company has a market cap of $2.90 billion, a P/E ratio of 979.17 and a beta of 1.66. Vericel has a 52 week low of $32.31 and a 52 week high of $61.49. The company has a 50-day moving average price of $46.69 and a 200 day moving average price of $47.14.

Vericel (NASDAQ:VCEL) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Vericel had a net margin of 1.56% and a return on equity of 1.48%. The company had revenue of $57.91 million during the quarter, compared to analysts’ expectations of $55.32 million. Analysts expect that Vericel will post 0.13 EPS for the current year.

Insider Transactions at Vericel

In related news, Director Steven C. Gilman sold 5,833 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $40.35, for a total transaction of $235,361.55. Following the completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at $443,850. This represents a 34.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert L. Md Zerbe sold 2,500 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the sale, the director now directly owns 26,595 shares of the company’s stock, valued at approximately $1,595,700. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,666 shares of company stock valued at $1,350,764. Insiders own 5.20% of the company’s stock.

Institutional Trading of Vericel

Institutional investors have recently made changes to their positions in the stock. Silvercrest Asset Management Group LLC acquired a new stake in shares of Vericel in the 1st quarter worth approximately $6,538,000. Scholtz & Company LLC acquired a new stake in shares of Vericel in the 2nd quarter worth approximately $1,357,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Vericel by 4.6% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,048 shares of the biotechnology company’s stock worth $45,590,000 after acquiring an additional 47,108 shares during the period. Premier Fund Managers Ltd bought a new stake in shares of Vericel in the 3rd quarter worth approximately $781,000. Finally, Atria Investments Inc raised its holdings in shares of Vericel by 21.6% in the 3rd quarter. Atria Investments Inc now owns 7,768 shares of the biotechnology company’s stock worth $328,000 after purchasing an additional 1,378 shares in the last quarter.

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.