Vericel Co. (NASDAQ:VCEL) Receives Average Rating of “Buy” from Brokerages

Shares of Vericel Co. (NASDAQ:VCEL) have been given an average rating of “Buy” by the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $58.14.

Several research firms have recently weighed in on VCEL. Canaccord Genuity Group reiterated a “buy” rating and issued a $60.00 target price on shares of Vericel in a research note on Tuesday, November 19th. TD Cowen boosted their target price on shares of Vericel from $55.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Canaccord Genuity Group initiated coverage on Vericel in a research report on Friday, August 9th. They set a “buy” rating and a $57.00 target price on the stock. StockNews.com upgraded Vericel from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, HC Wainwright reissued a “buy” rating and set a $60.00 price objective on shares of Vericel in a report on Friday, November 8th.

Vericel Trading Down 0.8 %

Shares of NASDAQ VCEL opened at $58.62 on Tuesday. The stock has a fifty day simple moving average of $46.41 and a two-hundred day simple moving average of $47.07. Vericel has a 1-year low of $32.31 and a 1-year high of $61.49. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 977.00 and a beta of 1.66.

Vericel (NASDAQ:VCEL) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. Vericel had a return on equity of 1.48% and a net margin of 1.56%. The company had revenue of $57.91 million during the quarter, compared to the consensus estimate of $55.32 million. Analysts forecast that Vericel will post 0.13 EPS for the current year.

Insider Buying and Selling

In related news, Director Steven C. Gilman sold 5,833 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $40.35, for a total value of $235,361.55. Following the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $443,850. This represents a 34.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert L. Md Zerbe sold 2,500 shares of Vericel stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $60.00, for a total transaction of $150,000.00. Following the sale, the director now owns 26,595 shares of the company’s stock, valued at approximately $1,595,700. The trade was a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,666 shares of company stock worth $1,350,764. Corporate insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Vericel

Institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC grew its position in Vericel by 4,126.7% in the third quarter. International Assets Investment Management LLC now owns 634 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 619 shares in the last quarter. CWM LLC lifted its stake in Vericel by 319.0% during the second quarter. CWM LLC now owns 662 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 504 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Vericel by 48.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,247 shares of the biotechnology company’s stock worth $53,000 after purchasing an additional 405 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Vericel by 22.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,773 shares of the biotechnology company’s stock valued at $77,000 after purchasing an additional 322 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Vericel during the 3rd quarter valued at about $92,000.

Vericel Company Profile

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.