Vericel (NASDAQ:VCEL) Sets New 52-Week High - Still a Buy?

Key Points

• Vericel hit a new 52-week high, trading as high as $48.45 and closing near $48.50 on Thursday, after previously closing at $46.72.
• Recent earnings were solid: the biotech company reported a smaller-than-expected loss of $0.12 per share, beat revenue estimates with $68.43 million, and posted 30.1% year-over-year revenue growth.
• Analyst sentiment is mixed but still leans cautious-to-positive, with an average Hold rating and a consensus price target of $52.50, while some insiders have recently sold shares.

Vericel Corporation (NASDAQ:VCEL - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $48.45 and last traded at $48.4950, with a volume of 41825 shares changing hands. The stock had previously closed at $46.72.

Wall Street Analyst Weigh In

VCEL has been the topic of a number of analyst reports. HC Wainwright reiterated a "buy" rating and set a $64.00 price objective on shares of Vericel in a research note on Friday, May 8th. Truist Financial dropped their price objective on shares of Vericel from $48.00 to $42.00 and set a "buy" rating for the company in a report on Wednesday, April 15th. Weiss Ratings upgraded shares of Vericel from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, June 16th. Finally, Wall Street Zen lowered shares of Vericel from a "buy" rating to a "hold" rating in a research note on Sunday, June 14th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $52.50.

Vericel Stock Performance

The stock has a market cap of $2.43 billion, a PE ratio of 113.78 and a beta of 1.07. The business's fifty day moving average price is $39.05 and its 200-day moving average price is $36.68.

Vericel (NASDAQ:VCEL - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.03. Vericel had a return on equity of 6.41% and a net margin of 7.35%.The business had revenue of $68.43 million during the quarter, compared to the consensus estimate of $63.68 million. During the same period in the previous year, the company posted ($0.23) EPS. The business's quarterly revenue was up 30.1% compared to the same quarter last year. Analysts forecast that Vericel Corporation will post 0.49 earnings per share for the current fiscal year.

Insider Activity at Vericel

In other Vericel news, CFO Joseph Anthony Mara, Jr. sold 5,000 shares of Vericel stock in a transaction on Friday, June 26th. The shares were sold at an average price of $44.75, for a total value of $223,750.00. Following the sale, the chief financial officer directly owned 16,009 shares in the company, valued at approximately $716,402.75. The trade was a 23.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sean C. Flynn sold 15,000 shares of the business's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $40.21, for a total value of $603,150.00. Following the completion of the sale, the insider owned 1,647 shares in the company, valued at $66,225.87. This represents a 90.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 47,732 shares of company stock valued at $2,084,167. Insiders own 7.60% of the company's stock.

Institutional Investors Weigh In On Vericel

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB raised its holdings in Vericel by 2.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 23,079 shares of the biotechnology company's stock valued at $1,027,000 after buying an additional 500 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Vericel by 17.7% in the second quarter. GAMMA Investing LLC now owns 1,886 shares of the biotechnology company's stock valued at $84,000 after purchasing an additional 283 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Vericel by 651.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,667 shares of the biotechnology company's stock worth $119,000 after buying an additional 2,312 shares during the period. Glenmede Trust Co. NA lifted its stake in Vericel by 18.4% in the first quarter. Glenmede Trust Co. NA now owns 15,097 shares of the biotechnology company's stock worth $486,000 after acquiring an additional 2,348 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of Vericel by 19.7% in the 1st quarter. Bank of America Corp DE now owns 1,098,771 shares of the biotechnology company's stock worth $35,347,000 after purchasing an additional 180,761 shares during the period.

Vericel Company Profile

Vericel Corporation is a biotechnology company specializing in the development, manufacturing and commercialization of cell-based therapies for patients with severe diseases and conditions. The company's expertise lies in regenerative medicine, where it harnesses the power of autologous cell processing to create products designed to restore function and promote healing in damaged tissues.

Vericel currently markets two FDA-approved therapies. MACI® (autologous cultured chondrocytes on porcine collagen membrane) is indicated for the repair of symptomatic cartilage defects of the knee in adult patients.

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