Vericel Corporation (NASDAQ:VCEL) Given Average Rating of "Buy" by Brokerages

Vericel Corporation (NASDAQ:VCEL - Get Free Report) has been given a consensus rating of "Buy" by the seven brokerages that are presently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have covered the stock in the last year is $61.14.

Several equities analysts have recently weighed in on VCEL shares. Stephens reiterated an "overweight" rating and issued a $67.00 target price on shares of Vericel in a research note on Monday, June 16th. Wall Street Zen downgraded shares of Vericel from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Finally, Truist Financial lowered their target price on shares of Vericel from $61.00 to $51.00 and set a "buy" rating on the stock in a report on Friday, April 11th.

Vericel Stock Performance

NASDAQ:VCEL traded up $0.33 during trading hours on Wednesday, reaching $41.79. The stock had a trading volume of 161,609 shares, compared to its average volume of 417,336. The stock has a market cap of $2.10 billion, a P/E ratio of 1,393.30 and a beta of 1.32. The stock has a 50 day simple moving average of $41.63 and a 200 day simple moving average of $48.32. Vericel has a 12-month low of $37.39 and a 12-month high of $63.00.

Vericel (NASDAQ:VCEL - Get Free Report) last posted its quarterly 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). Vericel had a return on equity of 1.09% and a net margin of 1.25%. The firm had revenue of $52.60 million for the quarter, compared to the consensus estimate of $53.86 million. During the same quarter in the previous year, the company posted ($0.08) EPS. The firm's revenue was up 2.6% compared to the same quarter last year. On average, equities analysts expect that Vericel will post 0.14 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Dominick Colangelo sold 24,850 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 260,354 shares of the company's stock, valued at approximately $10,906,229.06. The trade was a 8.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.20% of the company's stock.

Institutional Trading of Vericel

Several institutional investors and hedge funds have recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new position in shares of Vericel during the 4th quarter valued at $57,000. Smartleaf Asset Management LLC raised its position in shares of Vericel by 511.1% in 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 in the last quarter. Meeder Asset Management Inc. boosted its stake in Vericel by 8.4% during the fourth quarter. Meeder Asset Management Inc. now owns 2,357 shares of the biotechnology company's stock valued at $129,000 after buying an additional 183 shares during the period. GAMMA Investing LLC grew its position in Vericel by 34.8% during the first quarter. GAMMA Investing LLC now owns 2,895 shares of the biotechnology company's stock worth $129,000 after buying an additional 748 shares in the last quarter. Finally, Gagnon Securities LLC purchased a new position in Vericel during the first quarter worth about $137,000.

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.