Vericel (NASDAQ:VCEL) Price Target Raised to $60.00

Vericel (NASDAQ:VCEL) had its price target upped by HC Wainwright from $55.00 to $60.00 in a report released on Friday, Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock. HC Wainwright also issued estimates for Vericel’s FY2024 earnings at $0.21 EPS and Q2 2025 earnings at $0.04 EPS.

VCEL has been the topic of a number of other research reports. TD Cowen started coverage on Vericel in a report on Thursday, June 20th. They issued a buy rating and a $55.00 target price on the stock. StockNews.com upgraded shares of Vericel from a sell rating to a hold rating in a report on Wednesday, July 24th. Truist Financial increased their target price on shares of Vericel from $56.00 to $57.00 and gave the company a buy rating in a report on Tuesday, July 16th. Finally, BTIG Research decreased their price target on Vericel from $56.00 to $55.00 and set a buy rating on the stock in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to MarketBeat, Vericel presently has a consensus rating of Moderate Buy and a consensus target price of $54.50.

Vericel Stock Down 3.7 %

VCEL opened at $45.86 on Friday. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -4,586.00 and a beta of 1.70. Vericel has a 52 week low of $30.18 and a 52 week high of $54.08. The business’s 50 day moving average is $47.19 and its two-hundred day moving average is $46.95.

Vericel (NASDAQ:VCEL) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.10) EPS for the quarter, meeting the consensus estimate of ($0.10). The firm had revenue of $52.70 million during the quarter, compared to the consensus estimate of $52.59 million. Vericel had a net margin of 0.37% and a return on equity of 0.35%. Vericel’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.11) EPS. Equities analysts expect that Vericel will post 0.11 EPS for the current fiscal year.

Insider Activity

In other news, insider Sean C. Flynn sold 6,772 shares of Vericel stock in a transaction on Friday, June 21st. The stock was sold at an average price of $45.02, for a total value of $304,875.44. Following the completion of the sale, the insider now owns 487 shares of the company’s stock, valued at $21,924.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Sean C. Flynn sold 6,772 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $45.02, for a total value of $304,875.44. Following the transaction, the insider now directly owns 487 shares in the company, valued at approximately $21,924.74. 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 business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $44.12, for a total value of $772,100.00. Following the sale, the chief executive officer now owns 220,752 shares of the company’s stock, valued at approximately $9,739,578.24. The disclosure for this sale can be found here. Insiders sold a total of 63,791 shares of company stock valued at $3,101,269 over the last 90 days. Insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Vericel

A number of hedge funds have recently made changes to their positions in the business. Congress Asset Management Co. MA raised its position in Vericel by 509.1% in the first quarter. Congress Asset Management Co. MA now owns 836,481 shares of the biotechnology company’s stock valued at $43,514,000 after purchasing an additional 699,147 shares during the period. TimesSquare Capital Management LLC acquired a new position in Vericel during the 1st quarter worth approximately $12,782,000. Victory Capital Management Inc. boosted its holdings in Vericel by 51.5% in the 2nd quarter. Victory Capital Management Inc. now owns 611,146 shares of the biotechnology company’s stock worth $28,039,000 after acquiring an additional 207,714 shares during the period. Geneva Capital Management LLC grew its position in Vericel by 43.6% in the first quarter. Geneva Capital Management LLC now owns 679,165 shares of the biotechnology company’s stock valued at $35,330,000 after acquiring an additional 206,202 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Vericel by 61.2% during the first quarter. Principal Financial Group Inc. now owns 410,488 shares of the biotechnology company’s stock valued at $21,354,000 after purchasing an additional 155,871 shares during the period.

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.