Vericel Corporation $VCEL Shares Purchased by PFG Investments LLC

Key Points

• PFG Investments LLC increased its stake in Vericel Corporation by 103.3% during the second quarter, now owning 15,350 shares valued at $653,000.
• Vericel's quarterly revenue grew by 20.1% year-over-year, reaching $63.24 million, while its earnings per share topped analysts' expectations.
• Analysts have mixed views on Vericel, with one rating it as a sell and others providing a moderate buy consensus and an average target price of $60.40.

PFG Investments LLC grew its stake in shares of Vericel Corporation (NASDAQ:VCEL - Free Report) by 103.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,350 shares of the biotechnology company's stock after acquiring an additional 7,800 shares during the quarter. PFG Investments LLC's holdings in Vericel were worth $653,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State of Wyoming increased its stake in shares of Vericel by 3.8% during the 1st quarter. State of Wyoming now owns 10,428 shares of the biotechnology company's stock valued at $465,000 after acquiring an additional 381 shares during the last quarter. Portside Wealth Group LLC increased its stake in shares of Vericel by 9.9% during the 1st quarter. Portside Wealth Group LLC now owns 6,546 shares of the biotechnology company's stock valued at $292,000 after acquiring an additional 591 shares during the last quarter. CW Advisors LLC increased its stake in shares of Vericel by 0.3% during the 1st quarter. CW Advisors LLC now owns 182,866 shares of the biotechnology company's stock valued at $8,159,000 after acquiring an additional 593 shares during the last quarter. Truist Financial Corp increased its stake in shares of Vericel by 1.0% during the 2nd quarter. Truist Financial Corp now owns 61,280 shares of the biotechnology company's stock valued at $2,607,000 after acquiring an additional 599 shares during the last quarter. Finally, US Bancorp DE increased 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 valued at $137,000 after acquiring an additional 706 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Vericel in a research note on Saturday, September 27th. BTIG Research cut Vericel from a "buy" rating to a "neutral" rating in a report on Wednesday, September 17th. Stephens reiterated an "overweight" rating and set a $67.00 target price on shares of Vericel in a report on Monday, June 16th. Finally, Canaccord Genuity Group decreased their target price on Vericel from $61.00 to $58.00 and set a "buy" rating for the company in a report on Friday, August 1st. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $60.40.

Vericel Stock Up 2.9%

NASDAQ VCEL opened at $32.44 on Friday. The stock has a market cap of $1.64 billion, a PE ratio of 270.36 and a beta of 1.39. Vericel Corporation has a fifty-two week low of $29.24 and a fifty-two week high of $63.00. The business has a 50 day moving average price of $34.46 and a two-hundred day moving average price of $39.15.

Vericel (NASDAQ:VCEL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biotechnology company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.03. The firm had revenue of $63.24 million during the quarter, compared to analysts' expectations of $64.61 million. Vericel had a return on equity of 2.47% and a net margin of 2.85%.Vericel's quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.10) EPS. Sell-side analysts anticipate 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.

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