Vericel (NASDAQ:VCEL) Reaches New 1-Year Low - Time to Sell?

Key Points

• Vericel Corporation's stock reached a new 52-week low at $32.98, down from a previous close of $34.05, with over 323,000 shares trading during the session.
• Despite the stock's decline, Wall Street analysts maintain an overall Buy rating for Vericel, with an average price target of $60.40, indicating potential for growth.
• Recent quarterly earnings showed a revenue increase of 20.1% year-over-year, reporting $63.24 million, although it fell short of analyst estimates of $64.61 million.

Shares of Vericel Corporation (NASDAQ:VCEL - Get Free Report) reached a new 52-week low during trading on Monday . The stock traded as low as $33.00 and last traded at $32.98, with a volume of 323004 shares trading hands. The stock had previously closed at $34.05.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Canaccord Genuity Group cut their target price 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 reissued an "overweight" rating and set a $67.00 target price on shares of Vericel in a research note on Monday, June 16th. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $60.40.

Vericel Price Performance

The stock has a fifty day moving average price of $36.70 and a 200-day moving average price of $40.87. The company has a market cap of $1.62 billion, a PE ratio of 268.19 and a beta of 1.33.

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

Institutional Investors Weigh In On Vericel

A number of institutional investors have recently modified their holdings of VCEL. Ameritas Advisory Services LLC purchased a new position in shares of Vericel during the 2nd quarter valued at $30,000. GF Fund Management CO. LTD. purchased a new position in shares of Vericel during the 4th quarter valued at $57,000. CWM LLC grew its holdings in shares of Vericel by 101.3% during the 2nd quarter. CWM LLC now owns 1,379 shares of the biotechnology company's stock valued at $59,000 after acquiring an additional 694 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of Vericel during the 2nd quarter valued at $60,000. Finally, Osaic Holdings Inc. grew its holdings in shares of Vericel by 13.7% during the 2nd quarter. Osaic Holdings Inc. now owns 2,937 shares of the biotechnology company's stock valued at $125,000 after acquiring an additional 353 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.