Vericel (NASDAQ:VCEL) Announces Quarterly Earnings Results

Vericel (NASDAQ:VCEL) announced its earnings results on Wednesday. The biotechnology company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.03, Briefing.com reports. The company had revenue of $51.28 million for the quarter, compared to analysts’ expectations of $49.07 million. Vericel had a negative return on equity of 1.55% and a negative net margin of 1.61%. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.16) earnings per share. Vericel updated its FY 2024 guidance to EPS.

Vericel Stock Performance

Shares of VCEL stock traded up $0.96 on Thursday, hitting $48.65. The company’s stock had a trading volume of 318,746 shares, compared to its average volume of 523,546. The company has a market capitalization of $2.35 billion, a PE ratio of -539.78 and a beta of 1.74. Vericel has a fifty-two week low of $30.18 and a fifty-two week high of $53.05. The stock’s 50 day moving average is $47.24 and its 200-day moving average is $41.61.

Insider Transactions at Vericel

In other news, CEO Dominick Colangelo sold 17,500 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $44.59, for a total transaction of $780,325.00. Following the sale, the chief executive officer now directly owns 195,307 shares of the company’s stock, valued at approximately $8,708,739.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Dominick Colangelo sold 17,500 shares of Vericel stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $44.59, for a total transaction of $780,325.00. Following the sale, the chief executive officer now directly owns 195,307 shares in the company, valued at approximately $8,708,739.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Sean C. Flynn sold 8,115 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $45.33, for a total transaction of $367,852.95. Following the transaction, the senior vice president now directly owns 167 shares of the company’s stock, valued at approximately $7,570.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,267 shares of company stock valued at $2,450,996. 7.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VCEL. TheStreet upgraded shares of Vericel from a “d+” rating to a “c-” rating in a research report on Monday, January 29th. Truist Financial restated a “buy” rating and set a $54.00 target price on shares of Vericel in a report on Tuesday, March 26th. Finally, HC Wainwright increased their price objective on shares of Vericel from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Vericel presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.80.

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.