Wall Street brokerages forecast that Vericel Corp (NASDAQ:VCEL) will post $18.22 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Vericel’s earnings. The lowest sales estimate is $18.00 million and the highest is $18.44 million. Vericel posted sales of $14.26 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 27.8%. The firm is scheduled to report its next quarterly earnings results on Tuesday, November 6th.
According to Zacks, analysts expect that Vericel will report full-year sales of $81.41 million for the current year, with estimates ranging from $80.04 million to $82.78 million. For the next financial year, analysts forecast that the firm will post sales of $95.48 million per share, with estimates ranging from $91.00 million to $99.96 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Vericel.
Vericel (NASDAQ:VCEL) last posted its earnings results on Monday, August 6th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). Vericel had a negative net margin of 23.35% and a negative return on equity of 37.86%. The business had revenue of $19.01 million for the quarter, compared to analyst estimates of $18.51 million.
A number of research analysts recently issued reports on the stock. ValuEngine upgraded shares of Vericel from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. BidaskClub lowered shares of Vericel from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. BTIG Research reiterated a “buy” rating and issued a $17.00 target price on shares of Vericel in a research note on Wednesday, May 9th. Needham & Company LLC lowered their target price on shares of Vericel from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, August 8th. Finally, LADENBURG THALM/SH SH upgraded shares of Vericel from a “neutral” rating to a “buy” rating in a research note on Monday, July 16th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $15.00.
In other Vericel news, Director Paul K. Wotton sold 30,000 shares of the stock in a transaction on Monday, June 18th. The shares were sold at an average price of $12.06, for a total value of $361,800.00. Following the completion of the sale, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $60,300. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 4.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in Vericel by 145.5% in the 2nd quarter. BlackRock Inc. now owns 2,586,435 shares of the biotechnology company’s stock valued at $25,089,000 after purchasing an additional 1,532,840 shares during the period. RTW Investments LP boosted its holdings in Vericel by 7.3% in the 2nd quarter. RTW Investments LP now owns 2,217,916 shares of the biotechnology company’s stock valued at $21,514,000 after purchasing an additional 150,000 shares during the period. Millennium Management LLC boosted its holdings in Vericel by 28.2% in the 2nd quarter. Millennium Management LLC now owns 794,367 shares of the biotechnology company’s stock valued at $7,705,000 after purchasing an additional 174,631 shares during the period. Castleark Management LLC boosted its holdings in Vericel by 27.2% in the 2nd quarter. Castleark Management LLC now owns 720,585 shares of the biotechnology company’s stock valued at $6,990,000 after purchasing an additional 154,068 shares during the period. Finally, First Washington CORP boosted its holdings in Vericel by 18.7% in the 2nd quarter. First Washington CORP now owns 656,550 shares of the biotechnology company’s stock valued at $6,369,000 after purchasing an additional 103,380 shares during the period. 52.13% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:VCEL opened at $11.10 on Friday. Vericel has a 1 year low of $3.30 and a 1 year high of $14.75. The company has a current ratio of 7.72, a quick ratio of 7.48 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $551.17 million, a P/E ratio of -22.20 and a beta of 3.18.
Vericel Corporation, a commercial-stage biopharmaceutical company, researches, develops, manufactures, markets, and sells patient-specific expanded cellular therapies to repair and regenerate damaged tissues and organs. It markets autologous cell therapy products, including MACI, an autologous cellularized scaffold product for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; and Carticel, an autologous chondrocyte implant for the repair of symptomatic cartilage defects of the femoral condyle caused by acute or repetitive trauma in patients that have inadequate response to a prior arthroscopic or other surgical repair procedure.
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