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

Vericel (NASDAQ:VCEL) had its price objective hoisted by BTIG Research from $56.00 to $66.00 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group began coverage on Vericel in a report on Friday, August 9th. They set a “buy” rating and a $57.00 price objective for the company. Canaccord Genuity Group reissued a “buy” rating and set a $60.00 price objective on shares of Vericel in a report on Tuesday, November 19th. HC Wainwright reissued a “buy” rating and set a $60.00 price objective on shares of Vericel in a report on Friday, November 8th. StockNews.com raised Vericel from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Stephens boosted their price objective on Vericel from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Vericel has a consensus rating of “Moderate Buy” and an average price target of $59.71.

Vericel Stock Down 1.7 %

Vericel stock opened at $57.76 on Tuesday. The stock has a 50-day simple moving average of $47.12 and a 200 day simple moving average of $47.29. Vericel has a 12-month low of $32.31 and a 12-month high of $61.49. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 962.83 and a beta of 1.66.

Vericel (NASDAQ:VCEL) last released its quarterly 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 return on equity of 1.48% and a net margin of 1.56%. The business had revenue of $57.91 million during the quarter, compared to analysts’ expectations of $55.32 million. As a group, sell-side analysts anticipate that Vericel will post 0.13 EPS for the current year.

Insider Transactions at Vericel

In related news, Director Robert L. Md Zerbe sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $60.00, for a total value of $150,000.00. Following the completion of the transaction, the director now directly owns 26,595 shares in the company, valued at approximately $1,595,700. The trade was a 8.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dominick Colangelo sold 17,500 shares of the business’s stock in a transaction that occurred 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 owns 220,937 shares of the company’s stock, valued at $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 ninety days, insiders sold 31,666 shares of company stock worth $1,350,764. 7.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vericel

Several institutional investors and hedge funds have recently modified their holdings of VCEL. International Assets Investment Management LLC grew its position 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 period. CWM LLC grew its position in shares of Vericel by 319.0% in the 2nd quarter. CWM LLC now owns 662 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 504 shares during the period. Farther Finance Advisors LLC grew its position in shares of Vericel by 48.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,247 shares of the biotechnology company’s stock valued at $53,000 after purchasing an additional 405 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Vericel by 22.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,773 shares of the biotechnology company’s stock valued at $77,000 after acquiring an additional 322 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Vericel in the 3rd quarter valued at approximately $92,000.

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.