Vericel (NASDAQ:VCEL) Posts Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• Vericel reported quarterly earnings of ($0.01) EPS, exceeding analysts' expectations of ($0.04) EPS by $0.03, while year-over-year revenue increased by 20.1% to $63.24 million.
• Despite the earnings beat, Vericel's revenue fell short of analysts' expectations which were set at $64.61 million.
• Analysts have mixed ratings on Vericel, with one downgrade to "sell," while seven analysts maintain a "buy" rating, reflecting a consensus rating of "Moderate Buy" with a target price of $59.86.

Vericel (NASDAQ:VCEL - Get Free Report) posted its quarterly earnings data on Thursday. The biotechnology company reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.03, Briefing.com reports. Vericel had a return on equity of 2.47% and a net margin of 2.85%. The firm had revenue of $63.24 million for the quarter, compared to analysts' expectations of $64.61 million. During the same period in the previous year, the firm earned ($0.10) EPS. The business's quarterly revenue was up 20.1% on a year-over-year basis.

Vericel Trading Up 2.0%

Shares of VCEL traded up $0.69 during midday trading on Friday, reaching $35.63. 962,793 shares of the stock were exchanged, compared to its average volume of 600,352. Vericel has a 52 week low of $33.09 and a 52 week high of $63.00. The company's 50 day moving average is $40.83 and its two-hundred day moving average is $45.56. The company has a market capitalization of $1.79 billion, a P/E ratio of 296.94 and a beta of 1.32.

Analyst Upgrades and Downgrades

VCEL has been the topic of a number of analyst reports. Wall Street Zen cut Vericel from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Stephens reaffirmed an "overweight" rating and set a $67.00 price objective on shares of Vericel in a report on Monday, June 16th. Canaccord Genuity Group decreased their price target on Vericel from $61.00 to $58.00 and set a "buy" rating on the stock in a report on Friday. Finally, Truist Financial cut their price objective on Vericel from $61.00 to $51.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Vericel presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.86.

Hedge Funds Weigh In On Vericel

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Vericel by 9.0% during the 1st 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 buying an additional 10,191 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Vericel by 13.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 371,486 shares of the biotechnology company's stock worth $16,576,000 after buying an additional 44,333 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Vericel by 6.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,445 shares of the biotechnology company's stock worth $1,403,000 after buying an additional 1,847 shares in the last quarter. Finally, AQR Capital Management LLC bought a new stake in Vericel during the first quarter valued at about $242,000.

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.

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