Vericel (NASDAQ:VCEL) Downgraded by StockNews.com to Sell

StockNews.com cut shares of Vericel (NASDAQ:VCEL) from a hold rating to a sell rating in a research report released on Friday morning.

VCEL has been the subject of several other research reports. Stephens increased their target price on shares of Vericel from $56.00 to $58.00 and gave the company an overweight rating in a report on Friday. Truist Financial increased their target price on shares of Vericel from $56.00 to $57.00 and gave the company a buy rating in a report on Tuesday, July 16th. TD Cowen initiated coverage on shares of Vericel in a report on Thursday, June 20th. They issued a buy rating and a $55.00 target price for the company. HC Wainwright increased their target price on shares of Vericel from $55.00 to $60.00 and gave the company a buy rating in a report on Friday. Finally, BTIG Research lowered their target price on shares of Vericel from $56.00 to $55.00 and set a buy rating for the company in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $54.50.

Vericel Stock Up 0.2 %

Vericel stock opened at $47.62 on Friday. Vericel has a 1-year low of $30.18 and a 1-year high of $54.08. The firm’s fifty day moving average price is $47.19 and its two-hundred day moving average price is $46.84.

Vericel (NASDAQ:VCEL) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.10) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.10). Vericel had a net margin of 0.37% and a return on equity of 0.35%. The firm had revenue of $52.70 million for the quarter, compared to analyst estimates of $52.59 million. During the same period last year, the firm earned ($0.11) earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. Analysts anticipate that Vericel will post 0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Dominick Colangelo sold 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $44.12, for a total value of $772,100.00. Following the completion of the transaction, the chief executive officer now directly owns 220,752 shares in the company, valued at $9,739,578.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Sean C. Flynn sold 1,474 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $45.84, for a total value of $67,568.16. Following the completion of the transaction, the insider now directly owns 487 shares in the company, valued at $22,324.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dominick Colangelo sold 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $44.12, for a total transaction of $772,100.00. Following the completion of the transaction, the chief executive officer now owns 220,752 shares of the company’s stock, valued at $9,739,578.24. The disclosure for this sale can be found here. Insiders sold 63,791 shares of company stock worth $3,101,269 over the last quarter. 5.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vericel

Several hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in Vericel by 1.6% during the second quarter. Rhumbline Advisers now owns 144,572 shares of the biotechnology company’s stock valued at $6,633,000 after purchasing an additional 2,297 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Vericel by 1.0% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,031,940 shares of the biotechnology company’s stock valued at $47,346,000 after purchasing an additional 10,245 shares during the last quarter. Legato Capital Management LLC raised its stake in shares of Vericel by 102.1% during the second quarter. Legato Capital Management LLC now owns 29,190 shares of the biotechnology company’s stock worth $1,339,000 after acquiring an additional 14,750 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Vericel by 6.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 420,643 shares of the biotechnology company’s stock worth $19,299,000 after acquiring an additional 25,626 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Vericel by 3.7% during the second quarter. Bank of New York Mellon Corp now owns 356,434 shares of the biotechnology company’s stock worth $16,353,000 after acquiring an additional 12,710 shares in the last quarter.

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.