Vericel Corporation (NASDAQ:VCEL) Stock Has Average Price Target of $58.40

Key Points

• Analyst sentiment is moderately bullish: six brokerages rate Vericel “Moderate Buy,” with four buys and two holds. The average 12-month price target is $58.40, above the reported $39.30 share price.
• Vericel exceeded quarterly expectations, reporting $0.04 EPS versus a $0.03 loss estimate and revenue of $77.46 million versus $72.70 million expected. Revenue increased 22.5% year over year.
• An insider sold 4,500 shares for approximately $220,050, reducing his ownership by 80.67%; company insiders collectively own 7.60% of the stock.

Shares of Vericel Corporation (NASDAQ:VCEL - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $58.40.

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group set a $60.00 target price on shares of Vericel in a research note on Thursday, July 30th. TD Cowen raised their price target on shares of Vericel from $55.00 to $58.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Truist Financial restated a "buy" rating and set a $58.00 price target (up from $54.00) on shares of Vericel in a research report on Friday, July 31st. Weiss Ratings raised shares of Vericel from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, July 31st. Finally, Wall Street Zen upgraded shares of Vericel from a "hold" rating to a "buy" rating in a report on Saturday, July 18th.

Insider Activity

In related news, insider Jonathan Siegal sold 4,500 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $48.90, for a total value of $220,050.00. Following the completion of the sale, the insider owned 1,078 shares of the company's stock, valued at approximately $52,714.20. This trade represents a 80.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vericel

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VCEL. Tidal Investments LLC acquired a new stake in shares of Vericel in the 2nd quarter worth $215,000. MCF Advisors LLC boosted its position in shares of Vericel by 293.0% during the 2nd quarter. MCF Advisors LLC now owns 782 shares of the biotechnology company's stock valued at $35,000 after acquiring an additional 583 shares during the last quarter. Scholtz & Company LLC acquired a new position in shares of Vericel during the 2nd quarter valued at about $2,287,000. Engineers Gate Manager LP purchased a new stake in shares of Vericel in the second quarter valued at about $747,000. Finally, NorthRock Partners LLC purchased a new stake in shares of Vericel in the second quarter valued at about $211,000.

Vericel Trading Up 1.3%

VCEL stock opened at $39.30 on Friday. Vericel has a 12-month low of $28.95 and a 12-month high of $49.32. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 83.62 and a beta of 1.04. The business's 50-day moving average is $42.70 and its 200 day moving average is $38.83.

Vericel (NASDAQ:VCEL - Get Free Report) last announced its earnings results on Thursday, July 30th. The biotechnology company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.07. Vericel had a return on equity of 6.91% and a net margin of 7.91%.The business had revenue of $77.46 million during the quarter, compared to analysts' expectations of $72.70 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The business's revenue was up 22.5% compared to the same quarter last year. As a group, equities analysts forecast that Vericel will post 0.54 EPS for the current fiscal year.

About Vericel

Vericel Corporation is a commercial-stage biopharmaceutical company focused on cell therapies and advanced treatments for severe injuries and damaged tissue. The company develops and commercializes products designed to support the repair or replacement of tissue that may not heal adequately through conventional treatment.

Vericel's primary products include MACI, an autologous cell therapy used to repair symptomatic, full-thickness cartilage defects of the knee in adults, and Epicel, a cultured epidermal autograft used for permanent skin replacement in patients with deep dermal or full-thickness burns.

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