Brokerages Set Vericel Co. (NASDAQ:VCEL) Target Price at $60.86

Vericel Co. (NASDAQ:VCEL - Get Free Report) has received a consensus rating of "Buy" from the seven brokerages that are presently covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $60.86.

Several research analysts recently commented on the company. Canaccord Genuity Group boosted their target price on Vericel from $64.00 to $67.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. HC Wainwright reiterated a "buy" rating and set a $60.00 target price on shares of Vericel in a research report on Friday, February 28th. StockNews.com lowered Vericel from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Finally, Truist Financial reduced their target price on Vericel from $61.00 to $51.00 and set a "buy" rating on the stock in a research note on Friday, April 11th.

Insider Buying and Selling

In other news, CEO Dominick Colangelo sold 24,850 shares of the 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 transaction, the chief executive officer now owns 260,354 shares of the company's stock, valued at approximately $10,906,229.06. This trade represents a 8.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.20% of the company's stock.

Hedge Funds Weigh In On Vericel

Several large investors have recently modified their holdings of the stock. Arcadia Investment Management Corp MI acquired a new position in shares of Vericel during the fourth quarter worth approximately $48,000. GF Fund Management CO. LTD. acquired a new position in shares of Vericel in the fourth quarter worth $57,000. Smartleaf Asset Management LLC increased its position in Vericel by 511.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,265 shares of the biotechnology company's stock worth $70,000 after buying an additional 1,058 shares during the last quarter. Meeder Asset Management Inc. increased its position in Vericel by 8.4% during the fourth quarter. Meeder Asset Management Inc. now owns 2,357 shares of the biotechnology company's stock worth $129,000 after buying an additional 183 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Vericel by 34.8% during the first quarter. GAMMA Investing LLC now owns 2,895 shares of the biotechnology company's stock valued at $129,000 after acquiring an additional 748 shares during the period.

Vericel Trading Up 2.4%

Shares of VCEL stock traded up $0.99 during trading hours on Tuesday, reaching $42.48. 528,149 shares of the company's stock were exchanged, compared to its average volume of 408,121. The stock's 50 day moving average is $42.51 and its 200-day moving average is $51.18. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 708.12 and a beta of 1.31. Vericel has a fifty-two week low of $37.39 and a fifty-two week high of $63.00.

Vericel (NASDAQ:VCEL - Get Free Report) last released its earnings results on Thursday, May 8th. The biotechnology company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.14). The firm had revenue of $52.60 million during the quarter, compared to analysts' expectations of $53.86 million. Vericel had a net margin of 1.56% and a return on equity of 1.48%. The business's revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.08) EPS. Equities analysts anticipate that Vericel will post 0.14 EPS for the current year.

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.