Vericel (NASDAQ:VCEL) Price Target Raised to $26.00

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

A number of other analysts also recently commented on the company. SVB Leerink raised their price objective on Vericel from $20.00 to $30.00 and gave the stock an outperform rating in a research report on Monday, October 12th. Oppenheimer restated a buy rating and set a $32.00 price objective on shares of Vericel in a research report on Monday, October 5th. Truist assumed coverage on Vericel in a research report on Thursday, September 17th. They set a buy rating and a $24.00 price objective on the stock. BidaskClub upgraded Vericel from a hold rating to a buy rating in a research report on Tuesday, September 15th. Finally, ValuEngine upgraded Vericel from a hold rating to a buy rating in a research report on Monday, October 12th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Vericel presently has a consensus rating of Buy and a consensus target price of $25.00.

Shares of NASDAQ:VCEL opened at $20.68 on Thursday. The company has a market cap of $935.77 million, a P/E ratio of -2,068.00 and a beta of 2.88. The stock’s 50-day moving average is $18.37 and its 200-day moving average is $15.36. Vericel has a 52-week low of $6.78 and a 52-week high of $22.26. The company has a debt-to-equity ratio of 0.19, a quick ratio of 5.92 and a current ratio of 6.39.

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

A number of hedge funds have recently made changes to their positions in the stock. Summit Creek Advisors LLC boosted its stake in Vericel by 34.7% in the 3rd quarter. Summit Creek Advisors LLC now owns 636,164 shares of the biotechnology company’s stock valued at $11,788,000 after buying an additional 163,822 shares in the last quarter. Scout Investments Inc. acquired a new stake in Vericel in the 3rd quarter valued at $6,842,000. Mesirow Financial Investment Management Inc. boosted its stake in Vericel by 16.7% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 23,588 shares of the biotechnology company’s stock valued at $437,000 after buying an additional 3,381 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Vericel by 60.6% in the 2nd quarter. Two Sigma Advisers LP now owns 180,000 shares of the biotechnology company’s stock valued at $2,488,000 after buying an additional 67,900 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its stake in Vericel by 1.9% in the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 41,127 shares of the biotechnology company’s stock valued at $569,000 after buying an additional 769 shares in the last quarter. 94.98% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: Earnings Per Share (EPS)

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Analyst Recommendations for Vericel (NASDAQ:VCEL)

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