Vericel’s (VCEL) “Overweight” Rating Reaffirmed at Stephens

Stephens restated their overweight rating on shares of Vericel (NASDAQ:VCEL) in a research report sent to investors on Thursday,Benzinga reports. The firm currently has a $67.00 price target on the biotechnology company’s stock.

VCEL has been the subject of several other research reports. Canaccord Genuity Group increased their price objective on Vericel from $64.00 to $67.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Truist Financial decreased their price objective on Vericel from $61.00 to $51.00 and set a “buy” rating for the company in a report on Friday, April 11th. Wall Street Zen lowered Vericel from a “hold” rating to a “sell” rating in a report on Monday, May 12th. Finally, HC Wainwright reiterated a “buy” rating and set a $60.00 price objective on shares of Vericel in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Vericel presently has a consensus rating of “Moderate Buy” and an average price target of $61.14.

Vericel Stock Up 0.8%

Vericel stock opened at $41.38 on Thursday. The business has a fifty day moving average of $42.20 and a two-hundred day moving average of $51.03. The firm has a market cap of $2.08 billion, a P/E ratio of 689.78 and a beta of 1.31. Vericel has a twelve month low of $37.39 and a twelve month high of $63.00.

Vericel (NASDAQ:VCEL) last issued its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.14). Vericel had a net margin of 1.56% and a return on equity of 1.48%. The business had revenue of $52.60 million for the quarter, compared to analysts’ expectations of $53.86 million. During the same quarter in the prior year, the company posted ($0.08) EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities analysts expect that Vericel will post 0.14 earnings per share for the current year.

Insider Activity at Vericel

In related news, CEO Dominick Colangelo sold 26,592 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $45.78, for a total value of $1,217,381.76. Following the transaction, the chief executive officer now directly owns 259,997 shares of the company’s stock, valued at $11,902,662.66. This represents a 9.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Vericel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System grew its position in Vericel by 0.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 23,900 shares of the biotechnology company’s stock worth $1,312,000 after purchasing an additional 200 shares during the period. Park Avenue Securities LLC acquired a new stake in Vericel during the 4th quarter worth about $280,000. Proficio Capital Partners LLC acquired a new stake in Vericel during the 4th quarter worth about $956,000. Empowered Funds LLC acquired a new stake in Vericel during the 4th quarter worth about $261,000. Finally, KBC Group NV grew its position in Vericel by 82.5% during the 4th quarter. KBC Group NV now owns 2,707 shares of the biotechnology company’s stock worth $149,000 after purchasing an additional 1,224 shares during the period.

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.