TD Cowen Raises Vericel (NASDAQ:VCEL) Price Target to $60.00

Vericel (NASDAQ:VCEL) had its price objective increased by TD Cowen from $55.00 to $60.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. TD Cowen’s price objective would suggest a potential upside of 13.92% from the stock’s current price.

Several other equities analysts also recently commented on the stock. StockNews.com downgraded shares of Vericel from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Truist Financial upped their price target on Vericel from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Canaccord Genuity Group began coverage on Vericel in a research note on Friday, August 9th. They issued a “buy” rating and a $57.00 price objective for the company. Canaccord Genuity Group assumed coverage on shares of Vericel in a research note on Friday, August 9th. They set a “buy” rating and a $57.00 target price on the stock. Finally, BTIG Research dropped their price objective on shares of Vericel from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.75.

Vericel Stock Performance

Shares of VCEL traded up $2.73 during midday trading on Tuesday, hitting $52.67. 175,296 shares of the stock were exchanged, compared to its average volume of 446,313. Vericel has a 52-week low of $30.18 and a 52-week high of $54.08. The stock has a fifty day simple moving average of $47.63 and a 200 day simple moving average of $47.40. The firm has a market cap of $2.56 billion, a P/E ratio of -5,238.00 and a beta of 1.70.

Vericel (NASDAQ:VCEL) last released its earnings results on Thursday, August 1st. The biotechnology company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate 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 the consensus estimate of $52.59 million. During the same period in the previous year, the company posted ($0.11) EPS. Vericel’s revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts forecast that Vericel will post 0.11 EPS for the current fiscal year.

Insider Transactions at Vericel

In related news, CEO Dominick Colangelo sold 17,500 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $51.40, for a total value of $899,500.00. Following the completion of the sale, the chief executive officer now owns 220,937 shares in the company, valued at $11,356,161.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Sean C. Flynn sold 6,772 shares of Vericel stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $45.02, for a total transaction of $304,875.44. Following the completion of the sale, the insider now directly owns 487 shares in the company, valued at $21,924.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dominick Colangelo sold 17,500 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $51.40, for a total transaction of $899,500.00. Following the completion of the sale, the chief executive officer now owns 220,937 shares of the company’s stock, valued at $11,356,161.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,791 shares of company stock worth $3,101,269. Company insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Vericel

A number of institutional investors have recently bought and sold shares of VCEL. Congress Asset Management Co. MA lifted its position in Vericel by 509.1% during the first quarter. Congress Asset Management Co. MA now owns 836,481 shares of the biotechnology company’s stock valued at $43,514,000 after buying an additional 699,147 shares in the last quarter. TimesSquare Capital Management LLC acquired a new position in Vericel during the first quarter valued at approximately $12,782,000. Federated Hermes Inc. lifted 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 buying an additional 217,437 shares in the last quarter. Victory Capital Management Inc. lifted its position in Vericel by 51.5% during the second quarter. Victory Capital Management Inc. now owns 611,146 shares of the biotechnology company’s stock valued at $28,039,000 after buying an additional 207,714 shares in the last quarter. Finally, Geneva Capital Management LLC lifted its position in Vericel by 43.6% during the first quarter. Geneva Capital Management LLC now owns 679,165 shares of the biotechnology company’s stock valued at $35,330,000 after buying an additional 206,202 shares in 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.