Vericel Corporation (NASDAQ:VCEL) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Vericel Corporation has received a consensus recommendation of "Buy" from six brokerages, with an average price target of $60.33 over the next 12 months.
• After recent earnings results, Vericel reported a 20.1% year-over-year revenue increase, with quarterly revenue of $63.24 million surpassing expectations.
• The stock currently trades at $35.36, having a market capitalization of $1.78 billion and a PE ratio of 294.69.

Vericel Corporation (NASDAQ:VCEL - Get Free Report) has been given a consensus rating of "Buy" by the six brokerages that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $60.3333.

A number of analysts have recently weighed in on the stock. 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. Stephens reiterated an "overweight" rating and issued a $67.00 target price on shares of Vericel in a report on Monday, June 16th. Finally, Wall Street Zen cut shares of Vericel from a "hold" rating to a "sell" rating in a report on Monday, May 12th.

Vericel Stock Performance

Shares of VCEL opened at $35.36 on Thursday. The company has a market capitalization of $1.78 billion, a PE ratio of 294.69 and a beta of 1.27. The company's 50 day moving average price is $39.21 and its 200 day moving average price is $43.57. Vericel has a 52 week low of $33.09 and a 52 week high of $63.00.

Vericel (NASDAQ:VCEL - Get Free Report) last posted 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 company had revenue of $63.24 million during the quarter, compared to the consensus estimate of $64.61 million. Vericel had a return on equity of 2.47% and a net margin of 2.85%.The business's quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the business earned ($0.10) EPS. On average, equities analysts forecast that Vericel will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vericel

A number of institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors boosted its holdings in shares of Vericel by 3.4% in the 4th quarter. Captrust Financial Advisors now owns 6,111 shares of the biotechnology company's stock worth $336,000 after acquiring an additional 199 shares in the last quarter. State of Wyoming increased its holdings in 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 purchasing an additional 381 shares in the last quarter. California State Teachers Retirement System raised its position in Vericel by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 45,404 shares of the biotechnology company's stock valued at $1,932,000 after purchasing an additional 382 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in Vericel by 2.8% in the second quarter. Maryland State Retirement & Pension System now owns 14,795 shares of the biotechnology company's stock worth $630,000 after purchasing an additional 408 shares in the last quarter. Finally, Scholtz & Company LLC boosted its stake in Vericel by 0.9% in the second quarter. Scholtz & Company LLC now owns 50,573 shares of the biotechnology company's stock worth $2,152,000 after purchasing an additional 454 shares in the last quarter.

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.

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