Vericel Corporation (NASDAQ:VCEL) Receives $57.50 Average Price Target from Brokerages

Vericel Corporation (NASDAQ:VCEL) has received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $57.50.

Several research analysts recently weighed in on VCEL shares. Wall Street Zen raised shares of Vericel from a “hold” rating to a “buy” rating in a report on Sunday, January 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Vericel in a research report on Monday, December 29th. Zacks Research downgraded Vericel from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Truist Financial cut their price objective on shares of Vericel from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, December 18th.

Vericel Stock Up 5.9%

NASDAQ:VCEL opened at $35.96 on Thursday. Vericel has a 52 week low of $29.24 and a 52 week high of $58.77. The firm has a market capitalization of $1.82 billion, a P/E ratio of 149.84 and a beta of 1.24. The company has a fifty day moving average of $37.00 and a 200 day moving average of $36.08.

Institutional Trading of Vericel

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Vericel by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 3,584,006 shares of the biotechnology company’s stock valued at $129,060,000 after purchasing an additional 68,368 shares in the last quarter. State Street Corp increased its stake in Vericel by 12.7% in the 4th quarter. State Street Corp now owns 3,163,922 shares of the biotechnology company’s stock worth $113,933,000 after acquiring an additional 356,680 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in shares of Vericel by 19.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,463,590 shares of the biotechnology company’s stock worth $104,826,000 after acquiring an additional 401,990 shares in the last quarter. William Blair Investment Management LLC grew its holdings in shares of Vericel by 0.5% in the fourth quarter. William Blair Investment Management LLC now owns 2,222,107 shares of the biotechnology company’s stock valued at $80,018,000 after purchasing an additional 11,178 shares in the last quarter. Finally, Geneva Capital Management LLC increased its position in Vericel by 9.0% in the third quarter. Geneva Capital Management LLC now owns 1,946,305 shares of the biotechnology company’s stock worth $61,250,000 after purchasing an additional 161,378 shares during the last quarter.

Vericel Company Profile

Vericel Corporation is a biotechnology company specializing in the development, manufacturing and commercialization of cell-based therapies for patients with severe diseases and conditions. The company’s expertise lies in regenerative medicine, where it harnesses the power of autologous cell processing to create products designed to restore function and promote healing in damaged tissues.

Vericel currently markets two FDA-approved therapies. MACI® (autologous cultured chondrocytes on porcine collagen membrane) is indicated for the repair of symptomatic cartilage defects of the knee in adult patients.