Vericel (NASDAQ:VCEL) PT Raised to $44.00

Vericel (NASDAQ:VCEL) had its target price raised by equities research analysts at HC Wainwright from $26.00 to $44.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential upside of 19.18% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Vericel from a “hold” rating to a “buy” rating in a research note on Tuesday, September 15th. SVB Leerink boosted their target price on shares of Vericel from $20.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, October 12th. Stephens started coverage on shares of Vericel in a research note on Thursday, December 17th. They issued an “overweight” rating and a $31.00 target price for the company. Zacks Investment Research cut shares of Vericel from a “buy” rating to a “hold” rating in a research note on Saturday, January 9th. Finally, Oppenheimer cut shares of Vericel from an “outperform” rating to a “market perform” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $29.75.

NASDAQ VCEL opened at $36.92 on Tuesday. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -3,692.00 and a beta of 2.73. The company’s 50-day simple moving average is $28.53 and its two-hundred day simple moving average is $20.85. Vericel has a one year low of $6.78 and a one year high of $37.98.

Vericel (NASDAQ:VCEL) last released its earnings results on Thursday, November 5th. The biotechnology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.11. The company had revenue of $31.02 million for the quarter, compared to analysts’ expectations of $30.98 million. During the same period in the prior year, the firm posted $0.07 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities research analysts expect that Vericel will post -0.12 earnings per share for the current year.

In other news, Director Robert L. Md Zerbe sold 17,500 shares of the stock in a transaction dated Monday, November 23rd. The shares were sold at an average price of $23.55, for a total transaction of $412,125.00. Following the sale, the director now owns 34,295 shares of the company’s stock, valued at $807,647.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in VCEL. Bank of New York Mellon Corp lifted its holdings in Vericel by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 195,082 shares of the biotechnology company’s stock valued at $2,696,000 after acquiring an additional 747 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in Vericel by 1.9% in the second quarter. Schonfeld Strategic Advisors LLC now owns 41,127 shares of the biotechnology company’s stock valued at $569,000 after acquiring an additional 769 shares during the period. American International Group Inc. lifted its holdings in Vericel by 3.8% in the second quarter. American International Group Inc. now owns 27,514 shares of the biotechnology company’s stock valued at $380,000 after acquiring an additional 1,019 shares during the period. Swiss National Bank lifted its holdings in Vericel by 1.6% in the third quarter. Swiss National Bank now owns 91,700 shares of the biotechnology company’s stock valued at $1,699,000 after acquiring an additional 1,400 shares during the period. Finally, Jane Street Group LLC lifted its holdings in Vericel by 10.4% in the third quarter. Jane Street Group LLC now owns 22,785 shares of the biotechnology company’s stock valued at $422,000 after acquiring an additional 2,142 shares during the period. Institutional investors own 94.98% of the company’s stock.

About Vericel

Vericel Corporation, a commercial-stage biopharmaceutical company, researches, develops, manufactures, and distributes cellular therapies for sports medicine and severe burn care markets in the United States. It markets autologous cell therapy products comprising MACI, an autologous cellularized scaffold product for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; and Epicel, a permanent skin replacement humanitarian use device for the treatment of patients with deep-dermal or full-thickness burns.

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