Vericel (NASDAQ:VCEL) PT Raised to $55.00 at HC Wainwright

Vericel (NASDAQ:VCEL) had its price target upped by equities research analysts at HC Wainwright from $53.00 to $55.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 13.05% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Truist Financial reissued a “buy” rating and issued a $54.00 price target on shares of Vericel in a research note on Tuesday, March 26th. TheStreet upgraded Vericel from a “d+” rating to a “c-” rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.80.

Vericel Price Performance

NASDAQ:VCEL traded up $0.96 during trading hours on Thursday, hitting $48.65. The stock had a trading volume of 318,992 shares, compared to its average volume of 524,091. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -540.56 and a beta of 1.74. Vericel has a one year low of $30.18 and a one year high of $53.05. The company has a 50 day simple moving average of $47.24 and a two-hundred day simple moving average of $41.61.

Vericel (NASDAQ:VCEL) last issued its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.03. The company had revenue of $51.28 million during the quarter, compared to analyst estimates of $49.07 million. Vericel had a negative return on equity of 1.55% and a negative net margin of 1.61%. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. Vericel’s revenue was up 25.0% on a year-over-year basis. Equities research analysts anticipate that Vericel will post 0.09 earnings per share for the current year.

Insider Transactions at Vericel

In other Vericel news, CEO Dominick Colangelo sold 17,500 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $44.59, for a total transaction of $780,325.00. Following the completion of the transaction, the chief executive officer now owns 195,307 shares of the company’s stock, valued at approximately $8,708,739.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Vericel news, SVP Sean C. Flynn sold 8,115 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $45.33, for a total value of $367,852.95. Following the sale, the senior vice president now owns 167 shares in the company, valued at $7,570.11. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dominick Colangelo sold 17,500 shares of Vericel stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $44.59, for a total transaction of $780,325.00. Following the transaction, the chief executive officer now owns 195,307 shares of the company’s stock, valued at $8,708,739.13. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,267 shares of company stock worth $2,450,996. Company insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Vericel

Institutional investors and hedge funds have recently modified their holdings of the stock. MCF Advisors LLC grew its position in Vericel by 86.1% in the 1st quarter. MCF Advisors LLC now owns 482 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 223 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Vericel by 8.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,582 shares of the biotechnology company’s stock valued at $154,000 after buying an additional 344 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Vericel by 0.4% during the 1st quarter. Swiss National Bank now owns 89,500 shares of the biotechnology company’s stock valued at $4,656,000 after purchasing an additional 400 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Vericel in the 1st quarter worth $27,000. Finally, Gotham Asset Management LLC increased its position in Vericel by 3.6% during the 3rd quarter. Gotham Asset Management LLC now owns 15,311 shares of the biotechnology company’s stock valued at $513,000 after buying an additional 538 shares in the last quarter.

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.