Intech Investment Management LLC Raises Stock Position in Vericel Corporation $VCEL

Key Points

• Intech Investment Management LLC increased its stake in Vericel Corporation by 51.8%, owning a total of 53,533 shares valued at approximately $2.39 million.
• Analysts have set a consensus price target of $60.40 for Vericel, with five investment analysts rating the stock as a "Buy."
• Vericel recently reported a 20.1% year-over-year revenue increase of $63.24 million, surpassing analyst expectations for earnings per share.

Intech Investment Management LLC boosted its position in shares of Vericel Corporation (NASDAQ:VCEL - Free Report) by 51.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,533 shares of the biotechnology company's stock after buying an additional 18,274 shares during the quarter. Intech Investment Management LLC owned approximately 0.11% of Vericel worth $2,389,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in VCEL. GF Fund Management CO. LTD. bought a new stake in shares of Vericel in the 4th quarter valued at $57,000. GAMMA Investing LLC increased its holdings in Vericel by 34.8% during the 1st quarter. GAMMA Investing LLC now owns 2,895 shares of the biotechnology company's stock worth $129,000 after purchasing an additional 748 shares in the last quarter. Gagnon Securities LLC bought a new position in Vericel during the 1st quarter worth about $137,000. US Bancorp DE boosted its stake in shares of Vericel by 29.9% during the 1st quarter. US Bancorp DE now owns 3,071 shares of the biotechnology company's stock worth $137,000 after buying an additional 706 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of Vericel during the 4th quarter worth about $215,000.

Analyst Ratings Changes

A number of research firms have recently commented on VCEL. Canaccord Genuity Group reduced their price objective on shares of Vericel from $61.00 to $58.00 and set a "buy" rating for the company in a research note on Friday, August 1st. BTIG Research cut shares of Vericel from a "buy" rating to a "neutral" rating in a report on Wednesday. Finally, Stephens reaffirmed an "overweight" rating and set a $67.00 target price on shares of Vericel in a research note on Monday, June 16th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Vericel has a consensus rating of "Moderate Buy" and a consensus price target of $60.40.

Vericel Trading Down 0.5%

NASDAQ VCEL traded down $0.17 during trading hours on Friday, hitting $31.68. 1,575,669 shares of the company's stock traded hands, compared to its average volume of 833,477. Vericel Corporation has a 52 week low of $29.93 and a 52 week high of $63.00. The firm has a market capitalization of $1.60 billion, a P/E ratio of 264.02 and a beta of 1.33. The business's fifty day moving average price is $35.81 and its two-hundred day moving average price is $40.29.

Vericel (NASDAQ:VCEL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biotechnology company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.03. The business had revenue of $63.24 million for the quarter, compared to the consensus estimate of $64.61 million. Vericel had a net margin of 2.85% and a return on equity of 2.47%. The company's revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. On average, sell-side analysts expect that Vericel Corporation will post 0.14 EPS for the current fiscal year.

Vericel 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.