Leerink Partnrs Has Positive View of Vericel FY2024 Earnings

Vericel Co. (NASDAQ:VCEL) – Leerink Partnrs upped their FY2024 EPS estimates for Vericel in a research report issued on Thursday, November 7th. Leerink Partnrs analyst M. Kratky now anticipates that the biotechnology company will post earnings of $0.15 per share for the year, up from their prior estimate of $0.12. The consensus estimate for Vericel’s current full-year earnings is $0.12 per share. Leerink Partnrs also issued estimates for Vericel’s Q4 2024 earnings at $0.33 EPS, Q2 2025 earnings at $0.01 EPS, Q4 2025 earnings at $0.37 EPS, FY2027 earnings at $1.35 EPS and FY2028 earnings at $1.81 EPS.

Other research analysts have also issued research reports about the stock. Canaccord Genuity Group initiated coverage on shares of Vericel in a research note on Friday, August 9th. They issued a “buy” rating and a $57.00 price target on the stock. Stephens boosted their price objective on shares of Vericel from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Canaccord Genuity Group initiated coverage on Vericel in a report on Friday, August 9th. They set a “buy” rating and a $57.00 target price 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, BTIG Research decreased their price objective on Vericel from $56.00 to $55.00 and set a “buy” rating for the company in a report on Monday, July 15th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.71.

Vericel Price Performance

NASDAQ:VCEL opened at $54.00 on Monday. The business’s 50-day simple moving average is $44.27 and its 200-day simple moving average is $46.40. Vericel has a fifty-two week low of $32.28 and a fifty-two week high of $54.47. The stock has a market capitalization of $2.65 billion, a PE ratio of -5,400,000.00 and a beta of 1.66.

Vericel (NASDAQ:VCEL) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $57.91 million during the quarter, compared to analyst estimates of $55.32 million. Vericel had a net margin of 0.37% and a return on equity of 0.35%.

Insider Activity

In related news, CEO Dominick Colangelo sold 17,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $41.38, for a total transaction of $724,150.00. Following the sale, the chief executive officer now owns 220,937 shares in the company, valued at approximately $9,142,373.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Vericel news, Director Steven C. Gilman sold 5,833 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $41.36, for a total value of $241,252.88. Following the completion of the sale, the director now owns 11,000 shares in the company, valued at $454,960. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Dominick Colangelo sold 17,500 shares of Vericel stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $41.38, for a total transaction of $724,150.00. Following the completion of the transaction, the chief executive officer now directly owns 220,937 shares of the company’s stock, valued at approximately $9,142,373.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,166 shares of company stock worth $1,200,764 in the last quarter. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Vericel

Several hedge funds have recently bought and sold shares of VCEL. Intech Investment Management LLC bought a new stake in Vericel in the third quarter valued at approximately $563,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Vericel by 4.6% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,048 shares of the biotechnology company’s stock valued at $45,590,000 after acquiring an additional 47,108 shares during the period. Moran Wealth Management LLC lifted its holdings in Vericel by 42.4% during the 3rd quarter. Moran Wealth Management LLC now owns 10,755 shares of the biotechnology company’s stock valued at $454,000 after purchasing an additional 3,204 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Vericel by 4.0% during the third quarter. Advisors Asset Management Inc. now owns 16,890 shares of the biotechnology company’s stock worth $714,000 after purchasing an additional 644 shares during the period. Finally, Global Alpha Capital Management Ltd. raised its position in shares of Vericel by 60.2% in the third quarter. Global Alpha Capital Management Ltd. now owns 23,383 shares of the biotechnology company’s stock valued at $988,000 after purchasing an additional 8,791 shares during the period.

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.