Vericel (NASDAQ:VCEL) Issues Earnings Results

Vericel (NASDAQ:VCEL) released its quarterly earnings results on Thursday. The biotechnology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03, reports. The business had revenue of $57.91 million for the quarter, compared to the consensus estimate of $55.32 million. Vericel had a net margin of 0.37% and a return on equity of 0.35%. Vericel updated its FY 2024 guidance to EPS.

Vericel Price Performance

VCEL stock opened at $54.00 on Friday. Vericel has a 1-year low of $32.28 and a 1-year high of $54.47. The business has a 50 day simple moving average of $44.27 and a two-hundred day simple moving average of $46.40. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -5,400,000.00 and a beta of 1.66.

Insider Activity

In related news, CEO Dominick Colangelo sold 17,500 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $41.38, for a total transaction of $724,150.00. Following the completion of the transaction, the chief executive officer now owns 220,937 shares in the company, valued at approximately $9,142,373.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Vericel news, Director Steven C. Gilman sold 5,833 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $41.36, for a total transaction of $241,252.88. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at $454,960. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Dominick Colangelo sold 17,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $41.38, for a total value of $724,150.00. Following the sale, the chief executive officer now directly owns 220,937 shares in the company, valued at $9,142,373.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,166 shares of company stock worth $1,200,764 over the last quarter. Insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Vericel

Large investors have recently bought and sold shares of the business. Geneva Capital Management LLC increased its holdings in shares of Vericel by 61.4% in the 3rd quarter. Geneva Capital Management LLC now owns 1,104,386 shares of the biotechnology company’s stock worth $46,660,000 after buying an additional 420,078 shares during the last quarter. Congress Asset Management Co. increased its stake in Vericel by 37.4% during the third quarter. Congress Asset Management Co. now owns 1,291,720 shares of the biotechnology company’s stock worth $54,575,000 after acquiring an additional 351,550 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in Vericel during the first quarter valued at approximately $12,782,000. Federated Hermes Inc. raised its position in Vericel by 34.9% during the second quarter. Federated Hermes Inc. now owns 840,787 shares of the biotechnology company’s stock valued at $38,575,000 after purchasing an additional 217,437 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Vericel by 51.5% in the 2nd quarter. Victory Capital Management Inc. now owns 611,146 shares of the biotechnology company’s stock valued at $28,039,000 after purchasing an additional 207,714 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages recently commented on VCEL. StockNews.com raised Vericel from a “sell” rating to a “hold” rating in a report on Friday. Truist Financial raised their price objective on Vericel from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. BTIG Research cut their price objective on Vericel from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, July 15th. HC Wainwright restated a “buy” rating and set a $60.00 target price on shares of Vericel in a research note on Friday. Finally, Stephens lifted their price target on shares of Vericel from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $57.71.

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.