Vericel (NASDAQ:VCEL) Price Target Raised to $67.00

Vericel (NASDAQ:VCEL) had its target price hoisted by Truist Financial from $61.00 to $67.00 in a research report report published on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the biotechnology company’s stock.

A number of other brokerages have also recently weighed in on VCEL. BTIG Research lifted their price objective on shares of Vericel from $56.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. 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 reiterated a “buy” rating and issued a $60.00 price objective on shares of Vericel in a research note on Tuesday, November 19th. Stephens upgraded Vericel to a “strong-buy” rating in a report on Monday, December 2nd. Finally, HC Wainwright restated a “buy” rating and set a $60.00 price target on shares of Vericel in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.14.

Vericel Stock Up 2.8 %

NASDAQ:VCEL opened at $56.50 on Wednesday. Vericel has a 52 week low of $32.31 and a 52 week high of $61.49. The stock’s fifty day moving average is $51.74 and its two-hundred day moving average is $48.24. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 941.82 and a beta of 1.71.

Vericel (NASDAQ:VCEL) last announced its earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $57.91 million during the quarter, compared to analysts’ expectations of $55.32 million. Vericel had a return on equity of 1.48% and a net margin of 1.56%. On average, sell-side analysts expect that Vericel will post 0.13 EPS for the current fiscal year.

Insider Activity at Vericel

In other Vericel news, Director Robert L. Md Zerbe sold 2,500 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $60.00, for a total value of $150,000.00. Following the transaction, the director now directly owns 26,595 shares in the company, valued at $1,595,700. This represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven C. Gilman sold 5,833 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $40.35, for a total transaction of $235,361.55. Following the sale, the director now directly owns 11,000 shares in the company, valued at approximately $443,850. The trade was a 34.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,266 shares of company stock valued at $2,090,636 over the last quarter. 5.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Vericel

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geneva Capital Management LLC increased its position in shares of Vericel by 61.4% during the third quarter. Geneva Capital Management LLC now owns 1,104,386 shares of the biotechnology company’s stock worth $46,660,000 after purchasing an additional 420,078 shares in the last quarter. Wellington Management Group LLP grew its stake in Vericel by 214.0% during the 3rd quarter. Wellington Management Group LLP now owns 587,857 shares of the biotechnology company’s stock worth $24,837,000 after buying an additional 400,667 shares during the last quarter. Congress Asset Management Co. increased its position 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 buying an additional 351,550 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Vericel by 34.9% in the second quarter. Federated Hermes Inc. now owns 840,787 shares of the biotechnology company’s stock valued at $38,575,000 after acquiring an additional 217,437 shares during the period. Finally, TimesSquare Capital Management LLC grew its position in shares of Vericel by 54.8% during the third quarter. TimesSquare Capital Management LLC now owns 590,145 shares of the biotechnology company’s stock worth $24,934,000 after acquiring an additional 209,009 shares during the last quarter.

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.