Vericel (NASDAQ:VCEL) Price Target Raised to $67.00

Vericel (NASDAQ:VCEL) had its target price increased by Canaccord Genuity Group from $64.00 to $67.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

A number of other brokerages have also weighed in on VCEL. Stephens reaffirmed an “overweight” rating and set a $65.00 target price on shares of Vericel in a research report on Wednesday, January 15th. HC Wainwright reaffirmed a “buy” rating and set a $60.00 target price on shares of Vericel in a research report on Wednesday, January 15th. Truist Financial upped their target price on Vericel from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. StockNews.com raised Vericel from a “sell” rating to a “hold” rating in a research report on Tuesday, December 24th. Finally, BTIG Research upped their price target on Vericel from $56.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vericel currently has a consensus rating of “Moderate Buy” and an average target price of $63.14.

Vericel Stock Performance

Shares of VCEL opened at $61.80 on Monday. Vericel has a 52-week low of $39.12 and a 52-week high of $63.00. The business’s 50 day moving average price is $57.72 and its two-hundred day moving average price is $50.98. The firm has a market cap of $3.05 billion, a PE ratio of 1,030.17 and a beta of 1.72.

Vericel (NASDAQ:VCEL) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. Vericel had a return on equity of 1.48% and a net margin of 1.56%. The company had revenue of $57.91 million for the quarter, compared to analyst estimates of $55.32 million. Research analysts predict that Vericel will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling at Vericel

In other Vericel news, insider Jonathan Siegal sold 3,908 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $61.99, for a total value of $242,256.92. Following the completion of the transaction, the insider now owns 1,206 shares in the company, valued at $74,759.94. This represents a 76.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert L. Md Zerbe sold 2,500 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $60.00, for a total value of $150,000.00. Following the completion of the transaction, the director now owns 26,595 shares of the company’s stock, valued at $1,595,700. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,008 shares of company stock worth $1,132,129 in the last quarter. 5.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Vericel by 214.0% during the 3rd quarter. Wellington Management Group LLP now owns 587,857 shares of the biotechnology company’s stock worth $24,837,000 after acquiring an additional 400,667 shares during the period. Stifel Financial Corp grew its stake in shares of Vericel by 40.0% during the 3rd quarter. Stifel Financial Corp now owns 28,073 shares of the biotechnology company’s stock worth $1,186,000 after acquiring an additional 8,020 shares during the period. Geode Capital Management LLC grew its stake in shares of Vericel by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,154,053 shares of the biotechnology company’s stock worth $48,768,000 after acquiring an additional 9,613 shares during the period. Intech Investment Management LLC bought a new position in shares of Vericel during the 3rd quarter worth $563,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Vericel by 4.6% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,048 shares of the biotechnology company’s stock worth $45,590,000 after acquiring an additional 47,108 shares during the period.

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.