Canaccord Genuity Group Boosts Vericel (NASDAQ:VCEL) Price Target to $67.00

Vericel (NASDAQ:VCEL) had its target price hoisted by Canaccord Genuity Group from $64.00 to $67.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity Group’s price target points to a potential upside of 12.74% from the company’s current price.

VCEL has been the subject of a number of other research reports. BTIG Research upped their price objective on shares of Vericel from $56.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Truist Financial raised their price target on Vericel from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. StockNews.com upgraded Vericel from a “sell” rating to a “hold” rating in a research report on Tuesday, December 24th. Stephens restated an “overweight” rating and set a $65.00 target price on shares of Vericel in a report on Wednesday, January 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $60.00 price target on shares of Vericel in a report on Wednesday, January 15th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $63.14.

Vericel Trading Up 0.6 %

Vericel stock opened at $59.43 on Monday. The company’s 50-day moving average is $57.70 and its two-hundred day moving average is $50.91. Vericel has a 1 year low of $39.12 and a 1 year high of $61.99. The company has a market cap of $2.93 billion, a PE ratio of 990.67 and a beta of 1.72.

Vericel (NASDAQ:VCEL) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $55.32 million. Research analysts forecast that Vericel will post 0.14 EPS for the current year.

Insider Buying and Selling at Vericel

In other Vericel news, insider Jonathan Mark Hopper sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $58.72, for a total value of $587,200.00. Following the completion of the transaction, the insider now directly owns 58,371 shares in the company, valued at $3,427,545.12. This trade represents a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan Siegal sold 3,908 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $61.99, for a total value of $242,256.92. Following the transaction, the insider now directly owns 1,206 shares in the company, valued at $74,759.94. This trade represents a 76.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,008 shares of company stock worth $1,132,129. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Vericel

Several large investors have recently made changes to their positions in VCEL. International Assets Investment Management LLC raised its position in Vericel by 4,126.7% during the third quarter. International Assets Investment Management LLC now owns 634 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 619 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Vericel during the 4th quarter worth about $48,000. Farther Finance Advisors LLC raised its holdings in shares of Vericel by 48.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,247 shares of the biotechnology company’s stock valued at $53,000 after purchasing an additional 405 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Vericel by 22.2% in the 3rd 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 last quarter. Finally, Meeder Asset Management Inc. bought a new position in Vericel during the third quarter worth about $92,000.

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.