Vericel (NASDAQ:VCEL) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Vericel has been upgraded to a "Strong-Buy" rating by Zacks Research, signaling strong confidence from analysts in its future performance.
• The stock's current consensus rating is "Moderate Buy" with a target price of $58.40, amid varied ratings from several analysts.
• Vericel reported a quarterly revenue growth of 20.1% compared to last year, despite a slight decrease in EPS forecasts for the current fiscal year.

Vericel (NASDAQ:VCEL - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

VCEL has been the subject of a number of other reports. Canaccord Genuity Group decreased their target price on Vericel from $61.00 to $58.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Stephens restated an "overweight" rating and issued a $67.00 target price on shares of Vericel in a research note on Monday, June 16th. Weiss Ratings restated a "sell (d+)" rating on shares of Vericel in a research note on Wednesday, October 8th. Truist Financial decreased their target price on Vericel from $46.00 to $41.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, BTIG Research downgraded Vericel from a "buy" rating to a "neutral" rating in a research note on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.40.

Vericel Stock Performance

NASDAQ:VCEL opened at $33.59 on Tuesday. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 279.94 and a beta of 1.39. Vericel has a one year low of $29.24 and a one year high of $63.00. The stock has a 50-day simple moving average of $33.74 and a 200 day simple moving average of $38.41.

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

Institutional Investors Weigh In On Vericel

A number of hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. raised its holdings in Vericel by 13.7% during the second quarter. Osaic Holdings Inc. now owns 2,937 shares of the biotechnology company's stock worth $125,000 after purchasing an additional 353 shares in the last quarter. State of Wyoming raised its holdings in Vericel by 3.8% during the first quarter. State of Wyoming now owns 10,428 shares of the biotechnology company's stock worth $465,000 after purchasing an additional 381 shares in the last quarter. California State Teachers Retirement System raised its holdings in Vericel by 0.8% during the second quarter. California State Teachers Retirement System now owns 45,404 shares of the biotechnology company's stock worth $1,932,000 after purchasing an additional 382 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in Vericel by 2.8% during the second quarter. Maryland State Retirement & Pension System now owns 14,795 shares of the biotechnology company's stock worth $630,000 after purchasing an additional 408 shares in the last quarter. Finally, Scholtz & Company LLC raised its holdings in Vericel by 0.9% during the second quarter. Scholtz & Company LLC now owns 50,573 shares of the biotechnology company's stock worth $2,152,000 after purchasing an additional 454 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.