HC Wainwright Boosts Vericel (NASDAQ:VCEL) Price Target to $26.00

Vericel (NASDAQ:VCEL) had its price objective increased by HC Wainwright from $22.00 to $26.00 in a research report sent to investors on Thursday morning, The Fly reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.

A number of other research firms have also recently weighed in on VCEL. Truist began coverage on Vericel in a report on Thursday, September 17th. They set a buy rating and a $24.00 price target for the company. BTIG Research increased their price target on Vericel from $21.00 to $23.00 and gave the stock a buy rating in a report on Wednesday, September 23rd. Needham & Company LLC began coverage on Vericel in a report on Wednesday, August 5th. They set a hold rating for the company. ValuEngine upgraded Vericel from a hold rating to a buy rating in a report on Monday, October 12th. Finally, Oppenheimer reiterated a buy rating and set a $32.00 price target on shares of Vericel in a report on Monday, October 5th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $25.00.

Shares of VCEL opened at $20.68 on Thursday. Vericel has a 52-week low of $6.78 and a 52-week high of $22.26. The company has a market capitalization of $935.77 million, a PE ratio of -2,068.00 and a beta of 2.88. The stock has a fifty day simple moving average of $18.37 and a two-hundred day simple moving average of $15.36. The company has a quick ratio of 5.92, a current ratio of 6.39 and a debt-to-equity ratio of 0.19.

Vericel (NASDAQ:VCEL) last released its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.03. The business had revenue of $20.00 million for the quarter, compared to analysts’ expectations of $19.31 million. The business’s revenue for the quarter was down 23.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) earnings per share. As a group, equities analysts anticipate that Vericel will post -0.17 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in VCEL. JPMorgan Chase & Co. boosted its holdings in Vericel by 145.5% during the 1st quarter. JPMorgan Chase & Co. now owns 150,592 shares of the biotechnology company’s stock valued at $1,380,000 after acquiring an additional 89,251 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Vericel by 318.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 21,697 shares of the biotechnology company’s stock valued at $199,000 after acquiring an additional 16,510 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Vericel by 3.3% in the 1st quarter. Nuveen Asset Management LLC now owns 783,743 shares of the biotechnology company’s stock valued at $7,187,000 after buying an additional 24,818 shares during the period. Geode Capital Management LLC boosted its stake in shares of Vericel by 7.5% in the 1st quarter. Geode Capital Management LLC now owns 664,107 shares of the biotechnology company’s stock valued at $6,089,000 after buying an additional 46,498 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Vericel by 18.9% in the 1st quarter. Wells Fargo & Company MN now owns 971,403 shares of the biotechnology company’s stock valued at $8,908,000 after buying an additional 154,269 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. It markets autologous cell therapy products, including 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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