Shares of Vericel Corporation (NASDAQ:VCEL - Get Free Report) rose 5.6% during mid-day trading on Thursday . The stock traded as high as $35.12 and last traded at $35.46. Approximately 333,469 shares were traded during trading, a decline of 40% from the average daily volume of 556,699 shares. The stock had previously closed at $33.59.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on VCEL shares. Truist Financial lowered their price target on shares of Vericel from $46.00 to $41.00 and set a "buy" rating for the company in a research report on Wednesday. Zacks Research upgraded shares of Vericel from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Canaccord Genuity Group lowered their price target on shares of Vericel from $61.00 to $58.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Weiss Ratings reiterated a "sell (d+)" rating on shares of Vericel in a research report on Wednesday, October 8th. Finally, BTIG Research cut shares of Vericel from a "buy" rating to a "neutral" rating in a research report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $58.40.
Read Our Latest Report on Vericel
Vericel Price Performance
The company's 50-day simple moving average is $33.74 and its 200-day simple moving average is $38.41. The stock has a market capitalization of $1.73 billion, a P/E ratio of 290.05 and a beta of 1.39.
Vericel (NASDAQ:VCEL - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The biotechnology company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.03. The company had revenue of $63.24 million for the quarter, compared to analyst estimates of $64.61 million. Vericel had a net margin of 2.85% and a return on equity of 2.47%. The company's revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) earnings per share. On average, analysts forecast that Vericel Corporation will post 0.14 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rice Hall James & Associates LLC bought a new position in Vericel in the 3rd quarter valued at approximately $313,000. Curbstone Financial Management Corp raised its holdings in Vericel by 10.4% in the 3rd quarter. Curbstone Financial Management Corp now owns 14,270 shares of the biotechnology company's stock valued at $449,000 after buying an additional 1,350 shares during the last quarter. Corient Private Wealth LLC bought a new position in Vericel in the 2nd quarter valued at approximately $282,000. Valeo Financial Advisors LLC raised its holdings in Vericel by 11.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 10,300 shares of the biotechnology company's stock valued at $438,000 after buying an additional 1,026 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in Vericel by 13.7% in the 2nd quarter. Osaic Holdings Inc. now owns 2,937 shares of the biotechnology company's stock valued at $125,000 after buying an additional 353 shares during the last quarter.
About Vericel
(
Get Free Report)
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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