FY2023 EPS Estimates for Vericel Co. (NASDAQ:VCEL) Raised by Analyst

Vericel Co. (NASDAQ:VCEL) – Equities research analysts at HC Wainwright increased their FY2023 EPS estimates for shares of Vericel in a report issued on Thursday, November 9th. HC Wainwright analyst S. Ramakanth now forecasts that the biotechnology company will post earnings of ($0.20) per share for the year, up from their prior forecast of ($0.25). HC Wainwright has a “Buy” rating and a $44.50 price objective on the stock. The consensus estimate for Vericel’s current full-year earnings is ($0.21) per share. HC Wainwright also issued estimates for Vericel’s Q4 2023 earnings at $0.12 EPS, Q1 2024 earnings at ($0.19) EPS and Q2 2024 earnings at $0.00 EPS.

Vericel (NASDAQ:VCEL) last released its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.05. Vericel had a negative net margin of 5.54% and a negative return on equity of 5.19%. The business had revenue of $45.58 million during the quarter, compared to analysts’ expectations of $45.14 million.

A number of other equities analysts have also recently commented on the stock. Stephens reissued an “overweight” rating and issued a $44.00 price target on shares of Vericel in a research note on Thursday, September 21st. BTIG Research raised shares of Vericel from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Tuesday, August 8th. StockNews.com initiated coverage on shares of Vericel in a research note on Thursday, October 5th. They issued a “hold” rating for the company. SVB Leerink initiated coverage on shares of Vericel in a research note on Monday, October 16th. They issued an “outperform” rating and a $42.00 price objective for the company. Finally, Truist Financial upped their price objective on shares of Vericel from $33.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Vericel has an average rating of “Moderate Buy” and an average target price of $41.70.

Vericel Price Performance

VCEL stock opened at $33.91 on Monday. Vericel has a one year low of $20.40 and a one year high of $39.90. The stock has a market cap of $1.62 billion, a PE ratio of -147.43 and a beta of 1.67. The firm has a 50 day simple moving average of $34.17 and a two-hundred day simple moving average of $34.32.

Institutional Investors Weigh In On Vericel

Several institutional investors have recently added to or reduced their stakes in VCEL. Soleus Capital Management L.P. boosted its position in Vericel by 143.0% during the 4th quarter. Soleus Capital Management L.P. now owns 908,997 shares of the biotechnology company’s stock valued at $23,943,000 after buying an additional 534,997 shares during the period. State Street Corp raised its holdings in Vericel by 15.6% in the 2nd quarter. State Street Corp now owns 3,400,735 shares of the biotechnology company’s stock worth $85,631,000 after purchasing an additional 458,219 shares in the last quarter. William Blair Investment Management LLC raised its holdings in Vericel by 59.5% in the 3rd quarter. William Blair Investment Management LLC now owns 855,207 shares of the biotechnology company’s stock worth $28,667,000 after purchasing an additional 318,916 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Vericel by 216.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 397,391 shares of the biotechnology company’s stock worth $14,930,000 after purchasing an additional 271,727 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Vericel by 163.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 398,721 shares of the biotechnology company’s stock worth $14,980,000 after purchasing an additional 247,268 shares in 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 the United States. 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; and Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns.