Vericel (NASDAQ:VCEL) Downgraded to Neutral Rating by BTIG Research

Key Points

• Vericel was downgraded from a "buy" rating to a "neutral" rating by BTIG Research, reflecting a shift in market outlook on the stock.
• The company reported earnings of ($0.01) per share for the last quarter, surpassing analysts' expectations of ($0.04), but revenue fell short of consensus estimates at $63.24 million.
• Current consensus rating for Vericel remains a "Moderate Buy" with a price target of $60.40, despite the recent downgrade.

Vericel (NASDAQ:VCEL - Get Free Report) was downgraded by analysts at BTIG Research from a "buy" rating to a "neutral" rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports.

VCEL has been the topic of several other research reports. Stephens reissued an "overweight" rating and set a $67.00 price objective on shares of Vericel in a research note on Monday, June 16th. Canaccord Genuity Group lowered their price objective on shares of Vericel from $61.00 to $58.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $60.40.

Vericel Trading Down 0.5%

Shares of VCEL stock traded down $0.17 during mid-day trading on Wednesday, reaching $31.68. The stock had a trading volume of 1,575,669 shares, compared to its average volume of 833,477. The stock's 50-day moving average price is $35.81 and its two-hundred day moving average price is $40.21. Vericel has a 52-week low of $29.93 and a 52-week high of $63.00. The firm has a market capitalization of $1.60 billion, a PE ratio of 264.02 and a beta of 1.33.

Vericel (NASDAQ:VCEL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.03. Vericel had a net margin of 2.85% and a return on equity of 2.47%. The company had revenue of $63.24 million for the quarter, compared to analysts' expectations of $64.61 million. During the same quarter in the previous year, the company earned ($0.10) earnings per share. Vericel's quarterly revenue was up 20.1% on a year-over-year basis. On average, equities research analysts forecast that Vericel will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Vericel

Several institutional investors have recently bought and sold shares of the stock. Valeo Financial Advisors LLC grew its stake in Vericel by 11.1% during the second quarter. Valeo Financial Advisors LLC now owns 10,300 shares of the biotechnology company's stock valued at $438,000 after acquiring an additional 1,026 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of Vericel by 13.7% in the 2nd quarter. Osaic Holdings Inc. now owns 2,937 shares of the biotechnology company's stock worth $125,000 after buying an additional 353 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of Vericel by 9.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 171,642 shares of the biotechnology company's stock worth $7,303,000 after buying an additional 15,153 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Vericel by 7,627.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,791 shares of the biotechnology company's stock worth $204,000 after buying an additional 4,729 shares in the last quarter. Finally, Corient Private Wealth LLC purchased a new position in shares of Vericel in the 2nd quarter worth $282,000.

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.