Analysts Set Vericel Co. (NASDAQ:VCEL) Price Target at $57.71

Shares of Vericel Co. (NASDAQ:VCEL) have been assigned a consensus recommendation of “Buy” from the seven analysts that are currently covering the company, Marketbeat reports. Seven analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued a report on the stock in the last year is $58.14.

Several analysts recently weighed in on the company. Stephens lifted their price target on Vericel from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. StockNews.com raised Vericel from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Canaccord Genuity Group restated a “buy” rating and issued a $60.00 price target on shares of Vericel in a research note on Tuesday, November 19th. TD Cowen lifted their price objective on shares of Vericel from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Finally, HC Wainwright restated a “buy” rating and set a $60.00 target price on shares of Vericel in a research report on Friday, November 8th.

Vericel Trading Down 0.8 %

NASDAQ VCEL opened at $58.62 on Tuesday. Vericel has a 12 month low of $32.31 and a 12 month high of $61.49. The stock has a 50 day moving average of $46.41 and a 200-day moving average of $47.07. The company has a market cap of $2.89 billion, a PE ratio of 977.00 and a beta of 1.66.

Vericel (NASDAQ:VCEL) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $55.32 million. As a group, sell-side analysts predict that Vericel will post 0.13 EPS for the current fiscal year.

Insider Activity

In other news, Director Steven C. Gilman sold 5,833 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $41.36, for a total value of $241,252.88. Following the completion of the sale, the director now owns 11,000 shares in the company, valued at $454,960. This represents a 34.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dominick Colangelo sold 17,500 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $41.38, for a total transaction of $724,150.00. Following the transaction, the chief executive officer now owns 220,937 shares in the company, valued at approximately $9,142,373.06. This trade represents a 7.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,666 shares of company stock worth $1,350,764 over the last three months. 5.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vericel

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of Vericel by 4,126.7% in the third quarter. International Assets Investment Management LLC now owns 634 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 619 shares in the last quarter. CWM LLC grew its stake in Vericel by 319.0% in the 2nd quarter. CWM LLC now owns 662 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 504 shares during the period. Farther Finance Advisors LLC increased its position in shares of Vericel by 48.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,247 shares of the biotechnology company’s stock valued at $53,000 after purchasing an additional 405 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Vericel by 22.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,773 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 322 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in shares of Vericel in the 3rd quarter worth about $92,000.

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.