Vericel Corporation (NASDAQ:VCEL) Receives $58.50 Average Target Price from Brokerages

Vericel Corporation (NASDAQ:VCEL) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $56.00.

A number of research analysts have recently issued reports on the stock. Leerink Partners restated an “outperform” rating and issued a $46.00 price target on shares of Vericel in a research report on Tuesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Vericel in a research report on Monday, December 29th. Truist Financial cut their target price on shares of Vericel from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. HC Wainwright lifted their target price on Vericel from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, Wall Street Zen lowered Vericel from a “buy” rating to a “hold” rating in a report on Saturday, March 7th.

Vericel Trading Down 1.6%

Shares of NASDAQ VCEL opened at $32.88 on Monday. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 106.06 and a beta of 1.22. Vericel has a twelve month low of $29.24 and a twelve month high of $48.74. The business has a 50 day simple moving average of $36.61 and a 200-day simple moving average of $36.01.

Vericel (NASDAQ:VCEL) last announced its quarterly earnings data on Thursday, February 26th. The biotechnology company reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. Vericel had a return on equity of 5.17% and a net margin of 5.98%.The firm had revenue of $92.92 million for the quarter, compared to analysts’ expectations of $92.66 million. During the same period last year, the business posted $0.38 earnings per share. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, equities analysts predict that Vericel will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VCEL. Vanguard Group Inc. lifted its stake in Vericel by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 3,584,006 shares of the biotechnology company’s stock valued at $129,060,000 after buying an additional 68,368 shares during the last quarter. State Street Corp boosted its holdings in shares of Vericel by 12.7% during the fourth quarter. State Street Corp now owns 3,163,922 shares of the biotechnology company’s stock valued at $113,933,000 after acquiring an additional 356,680 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of Vericel by 3.6% during the fourth quarter. Conestoga Capital Advisors LLC now owns 2,254,562 shares of the biotechnology company’s stock worth $81,187,000 after acquiring an additional 79,278 shares during the last quarter. William Blair Investment Management LLC increased its holdings in shares of Vericel by 0.5% in the 4th quarter. William Blair Investment Management LLC now owns 2,222,107 shares of the biotechnology company’s stock worth $80,018,000 after acquiring an additional 11,178 shares during the period. Finally, Geneva Capital Management LLC lifted its position in Vericel by 9.0% in the 3rd quarter. Geneva Capital Management LLC now owns 1,946,305 shares of the biotechnology company’s stock valued at $61,250,000 after purchasing an additional 161,378 shares during the last quarter.

About Vericel

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.