Vericel (NASDAQ:VCEL) Issues Earnings Results

Vericel (NASDAQ:VCEL - Get Free Report) posted its earnings results on Wednesday. The biotechnology company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.03, Briefing.com reports. Vericel had a negative return on equity of 1.55% and a negative net margin of 1.61%. The company had revenue of $51.28 million for the quarter, compared to analyst estimates of $49.07 million. During the same quarter last year, the company earned ($0.16) earnings per share. The company's revenue for the quarter was up 25.0% on a year-over-year basis. Vericel updated its FY 2024 guidance to EPS.

Vericel Stock Performance

NASDAQ:VCEL traded up $0.96 during trading on Thursday, reaching $48.65. The company's stock had a trading volume of 318,992 shares, compared to its average volume of 525,415. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of -540.56 and a beta of 1.74. The firm has a 50 day moving average of $47.30 and a 200-day moving average of $41.66. Vericel has a 12 month low of $30.18 and a 12 month high of $53.05.

Insider Buying and Selling at Vericel

In other Vericel news, CEO Dominick Colangelo sold 17,500 shares of the company's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $44.67, for a total value of $781,725.00. Following the completion of the transaction, the chief executive officer now owns 194,870 shares in the company, valued at approximately $8,704,842.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Robert L. Md Zerbe sold 3,278 shares of the company's stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $51.57, for a total transaction of $169,046.46. Following the transaction, the director now owns 23,395 shares of the company's stock, valued at approximately $1,206,480.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dominick Colangelo sold 17,500 shares of the company's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $44.67, for a total value of $781,725.00. Following the transaction, the chief executive officer now directly owns 194,870 shares in the company, valued at approximately $8,704,842.90. The disclosure for this sale can be found here. Insiders sold 54,267 shares of company stock worth $2,450,996 in the last quarter. 7.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

VCEL has been the subject of several recent analyst reports. Truist Financial reiterated a "buy" rating and issued a $54.00 target price on shares of Vericel in a research note on Tuesday, March 26th. TheStreet upgraded shares of Vericel from a "d+" rating to a "c-" rating in a research note on Monday, January 29th. Finally, HC Wainwright lifted their target price on shares of Vericel from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $46.80.

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.