Vericel (NASDAQ:VCEL) Issues Earnings Results

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

Vericel Stock Up 2.0 %

Shares of VCEL traded up $0.96 on Thursday, hitting $48.65. The company’s stock had a trading volume of 318,992 shares, compared to its average volume of 525,413. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -540.56 and a beta of 1.74. The firm’s fifty day moving average price is $47.24 and its 200-day moving average price is $41.61. Vericel has a fifty-two week low of $30.18 and a fifty-two week high of $53.05.

Analyst Ratings Changes

VCEL has been the topic of a number of recent analyst reports. HC Wainwright boosted their price target on shares of Vericel from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday. TheStreet raised Vericel from a “d+” rating to a “c-” rating in a research note on Monday, January 29th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $54.00 price target on shares of Vericel in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $46.80.

Insiders Place Their Bets

In other news, SVP Sean C. Flynn sold 8,115 shares of the 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 completion of the sale, the senior vice president now owns 167 shares of the company’s stock, valued at $7,570.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Sean C. Flynn sold 8,115 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $45.33, for a total value of $367,852.95. Following the sale, the senior vice president now directly owns 167 shares in the company, valued at $7,570.11. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Dominick Colangelo sold 17,500 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $44.59, for a total value of $780,325.00. Following the transaction, the chief executive officer now directly owns 195,307 shares of the company’s stock, valued at approximately $8,708,739.13. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,267 shares of company stock worth $2,450,996. Company insiders own 7.20% of the company’s stock.

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.