Vericel (NASDAQ:VCEL) Price Target Raised to $66.00 at BTIG Research

Vericel (NASDAQ:VCEL) had its target price raised by BTIG Research from $56.00 to $66.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other research firms also recently commented on VCEL. TD Cowen boosted their price target on shares of Vericel from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Canaccord Genuity Group began coverage on Vericel in a research note on Friday, August 9th. They set a “buy” rating and a $57.00 target price for the company. HC Wainwright restated a “buy” rating and set a $60.00 price target on shares of Vericel in a report on Friday, November 8th. StockNews.com upgraded Vericel from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Stephens upped their target price on shares of Vericel from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.71.

Vericel Price Performance

Shares of VCEL opened at $58.14 on Tuesday. The firm has a 50-day simple moving average of $47.35 and a two-hundred day simple moving average of $47.36. The stock has a market cap of $2.87 billion, a PE ratio of 969.00 and a beta of 1.66. Vericel has a 1-year low of $32.31 and a 1-year high of $61.49.

Vericel (NASDAQ:VCEL) last posted its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. Vericel had a return on equity of 1.48% and a net margin of 1.56%. The firm had revenue of $57.91 million for the quarter, compared to the consensus estimate of $55.32 million. As a group, sell-side analysts expect that Vericel will post 0.13 earnings per share for the current fiscal year.

Insider Activity at Vericel

In related news, Director Robert L. Md Zerbe sold 2,500 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the completion of the sale, the director now owns 26,595 shares in the company, valued at $1,595,700. This represents a 8.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven C. Gilman sold 5,833 shares of Vericel stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $40.35, for a total transaction of $235,361.55. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at approximately $443,850. This represents a 34.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,666 shares of company stock valued at $1,350,764 in the last three months. 5.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vericel

Several hedge funds have recently made changes to their positions in VCEL. Nisa Investment Advisors LLC raised its stake in Vericel by 9.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,484 shares of the biotechnology company’s stock valued at $114,000 after acquiring an additional 220 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Vericel by 22.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,773 shares of the biotechnology company’s stock valued at $77,000 after purchasing an additional 322 shares during the period. PFG Investments LLC raised its stake in shares of Vericel by 6.2% during the second quarter. PFG Investments LLC now owns 6,850 shares of the biotechnology company’s stock worth $314,000 after purchasing an additional 400 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Vericel by 48.1% during the third quarter. Farther Finance Advisors LLC now owns 1,247 shares of the biotechnology company’s stock worth $53,000 after purchasing an additional 405 shares during the period. Finally, Arizona State Retirement System grew its position in Vericel by 3.3% in the 2nd quarter. Arizona State Retirement System now owns 12,866 shares of the biotechnology company’s stock valued at $590,000 after buying an additional 406 shares during the last quarter.

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.