Vericel Co. (NASDAQ:VCEL) Receives $61.14 Average Target Price from Brokerages

Shares of Vericel Co. (NASDAQ:VCEL - Get Free Report) have earned an average recommendation of "Buy" from the seven research firms that are presently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $61.14.

VCEL has been the topic of a number of analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Vericel in a report on Friday, February 28th. Truist Financial decreased their price target on Vericel from $61.00 to $51.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Stephens reiterated an "overweight" rating and issued a $67.00 price objective on shares of Vericel in a research report on Thursday, May 22nd. Finally, Wall Street Zen downgraded Vericel from a "hold" rating to a "sell" rating in a report on Monday, May 12th.

Vericel Trading Up 4.3%

Shares of Vericel stock traded up $1.88 during trading hours on Friday, hitting $45.70. 352,512 shares of the company were exchanged, compared to its average volume of 417,690. The business has a 50-day moving average of $41.25 and a 200-day moving average of $50.02. Vericel has a 1 year low of $37.39 and a 1 year high of $63.00. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 761.79 and a beta of 1.33.

Vericel (NASDAQ:VCEL - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.14). The firm had revenue of $52.60 million for the quarter, compared to analysts' expectations of $53.86 million. Vericel had a return on equity of 1.48% and a net margin of 1.56%. The firm's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) EPS. As a group, research analysts anticipate that Vericel will post 0.14 earnings per share for the current fiscal year.

Insider Activity at Vericel

In other Vericel news, CEO Dominick Colangelo sold 24,850 shares of the firm's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $41.89, for a total transaction of $1,040,966.50. Following the sale, the chief executive officer now directly owns 260,354 shares of the company's stock, valued at $10,906,229.06. This trade represents a 8.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vericel

Institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio purchased a new stake in Vericel in the 1st quarter worth approximately $812,000. Intech Investment Management LLC lifted its stake in shares of Vericel by 51.8% during the 1st quarter. Intech Investment Management LLC now owns 53,533 shares of the biotechnology company's stock worth $2,389,000 after purchasing an additional 18,274 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Vericel by 9.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,028 shares of the biotechnology company's stock worth $5,490,000 after purchasing an additional 10,191 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Vericel by 13.6% during the first quarter. Goldman Sachs Group Inc. now owns 371,486 shares of the biotechnology company's stock worth $16,576,000 after purchasing an additional 44,333 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Vericel by 6.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,445 shares of the biotechnology company's stock valued at $1,403,000 after purchasing an additional 1,847 shares during the period.

About Vericel

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.