Stephens Increases Vericel (NASDAQ:VCEL) Price Target to $58.00

Vericel (NASDAQ:VCEL) had its target price boosted by Stephens from $56.00 to $58.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an overweight rating on the biotechnology company’s stock.

A number of other research analysts also recently weighed in on the company. StockNews.com upgraded Vericel from a sell rating to a hold rating in a report on Wednesday, July 24th. TD Cowen began coverage on shares of Vericel in a research report on Thursday, June 20th. They issued a buy rating and a $55.00 price target for the company. Truist Financial boosted their price objective on shares of Vericel from $56.00 to $57.00 and gave the company a buy rating in a research report on Tuesday, July 16th. HC Wainwright boosted their price target on shares of Vericel from $55.00 to $60.00 and gave the company a buy rating in a report on Friday. Finally, BTIG Research reduced their price objective on Vericel from $56.00 to $55.00 and set a buy rating for the company in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $54.50.

Vericel Stock Up 0.2 %

VCEL opened at $47.62 on Friday. Vericel has a twelve month low of $30.18 and a twelve month high of $54.08. The business’s 50 day moving average is $47.19 and its 200-day moving average is $46.84.

Vericel (NASDAQ:VCEL) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.10). Vericel had a return on equity of 0.35% and a net margin of 0.37%. The company had revenue of $52.70 million during the quarter, compared to analyst estimates of $52.59 million. During the same quarter in the previous year, the firm posted ($0.11) EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities research analysts forecast that Vericel will post 0.11 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Sean C. Flynn sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $52.18, for a total transaction of $782,700.00. Following the completion of the sale, the insider now owns 707 shares in the company, valued at approximately $36,891.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Dominick Colangelo sold 17,500 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $44.12, for a total transaction of $772,100.00. Following the completion of the sale, the chief executive officer now owns 220,752 shares in the company, valued at approximately $9,739,578.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sean C. Flynn sold 15,000 shares of Vericel stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $52.18, for a total value of $782,700.00. Following the completion of the transaction, the insider now directly owns 707 shares in the company, valued at $36,891.26. The disclosure for this sale can be found here. Insiders have sold 63,791 shares of company stock valued at $3,101,269 over the last three months. 5.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vericel

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Congress Asset Management Co. MA grew its position in Vericel by 509.1% in the 1st quarter. Congress Asset Management Co. MA now owns 836,481 shares of the biotechnology company’s stock worth $43,514,000 after purchasing an additional 699,147 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in Vericel in the 1st quarter valued at approximately $12,782,000. Geneva Capital Management LLC lifted its position in shares of Vericel by 43.6% in the 1st quarter. Geneva Capital Management LLC now owns 679,165 shares of the biotechnology company’s stock worth $35,330,000 after acquiring an additional 206,202 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Vericel by 61.2% during the 1st quarter. Principal Financial Group Inc. now owns 410,488 shares of the biotechnology company’s stock worth $21,354,000 after purchasing an additional 155,871 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC bought a new stake in shares of Vericel during the first quarter valued at approximately $6,538,000.

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.