Vericel (NASDAQ:VCEL) had its price target increased by equities researchers at BTIG Research from $17.00 to $20.00 in a report issued on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. BTIG Research’s target price would suggest a potential upside of 20.12% from the company’s previous close.
Several other equities analysts have also recently commented on the stock. Needham & Company LLC reduced their price target on shares of Vericel from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, August 8th. LADENBURG THALM/SH SH raised shares of Vericel from a “neutral” rating to a “buy” rating in a research report on Monday, July 16th. Finally, BidaskClub cut shares of Vericel from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $16.75.
Shares of VCEL stock traded up $5.11 during trading hours on Tuesday, hitting $16.65. 10,795,026 shares of the company were exchanged, compared to its average volume of 837,849. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.48 and a current ratio of 7.72. Vericel has a one year low of $3.30 and a one year high of $15.29. The stock has a market capitalization of $513.57 million, a price-to-earnings ratio of -33.30 and a beta of 3.36.
Vericel (NASDAQ:VCEL) last issued its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.09. Vericel had a negative net margin of 23.35% and a negative return on equity of 37.86%. The business had revenue of $22.50 million for the quarter, compared to analysts’ expectations of $18.14 million. The business’s revenue was up 57.3% compared to the same quarter last year. As a group, research analysts forecast that Vericel will post -0.41 EPS for the current year.
In other Vericel news, Director Steven C. Gilman sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $12.03, for a total value of $108,270.00. Following the transaction, the director now owns 9,000 shares of the company’s stock, valued at $108,270. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gerard J. Michel sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $12.65, for a total transaction of $189,750.00. Following the completion of the transaction, the chief financial officer now directly owns 165,960 shares in the company, valued at approximately $2,099,394. The disclosure for this sale can be found here. Insiders sold 114,000 shares of company stock worth $1,609,770 in the last three months. 4.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of VCEL. BlackRock Inc. increased its stake in shares of Vericel by 145.5% in the second 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 increased its stake in shares of Vericel by 7.3% in the second 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 increased its stake in shares of Vericel by 28.2% in the second 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 increased its stake in shares of Vericel by 27.2% in the second 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 increased its stake in shares of Vericel by 18.7% in the second 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. 76.57% of the stock is currently owned by hedge funds and other institutional investors.
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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