Vericel (NASDAQ:VCEL) Sets New 1-Year High Following Earnings Beat

Vericel Co. (NASDAQ:VCEL)’s stock price hit a new 52-week high on Friday following a stronger than expected earnings report. The company traded as high as $54.47 and last traded at $53.94, with a volume of 225594 shares. The stock had previously closed at $50.03.

The biotechnology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. Vericel had a return on equity of 0.35% and a net margin of 0.37%. The company had revenue of $57.91 million during the quarter, compared to analyst estimates of $55.32 million.

Wall Street Analyst Weigh In

Several research firms have issued reports on VCEL. BTIG Research cut their price target on Vericel from $56.00 to $55.00 and set a “buy” rating for the company in a report on Monday, July 15th. Canaccord Genuity Group began coverage on Vericel in a report on Friday, August 9th. They set a “buy” rating and a $57.00 price target for the company. Canaccord Genuity Group began coverage on Vericel in a report on Friday, August 9th. They set a “buy” rating and a $57.00 price target for the company. TD Cowen boosted their price target on Vericel from $55.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Finally, Stephens boosted their price objective on Vericel from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.71.

Insider Activity

In related news, CEO Dominick Colangelo sold 17,500 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $41.38, for a total value of $724,150.00. Following the sale, the chief executive officer now directly owns 220,937 shares in the company, valued at approximately $9,142,373.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Dominick Colangelo sold 17,500 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $41.38, for a total value of $724,150.00. Following the sale, the chief executive officer now directly owns 220,937 shares in the company, valued at approximately $9,142,373.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven C. Gilman sold 5,833 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $40.35, for a total value of $235,361.55. Following the completion of the sale, the director now owns 11,000 shares in the company, valued at $443,850. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,166 shares of company stock worth $1,200,764 over the last ninety days. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Vericel

A number of hedge funds have recently made changes to their positions in the company. 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 valued at $27,000 after purchasing an additional 619 shares during the period. CWM LLC raised its position in Vericel by 319.0% during the second quarter. CWM LLC now owns 662 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 504 shares during the period. Farther Finance Advisors LLC raised its position in Vericel by 48.1% during the third 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. raised its position in Vericel by 22.2% during the third 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 period. Finally, Meeder Asset Management Inc. purchased a new stake in Vericel during the third quarter valued at approximately $92,000.

Vericel Price Performance

The firm has a market capitalization of $2.65 billion, a PE ratio of 900.00 and a beta of 1.66. The business has a 50-day simple moving average of $44.27 and a 200-day simple moving average of $46.40.

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.