Vericel (NASDAQ:VCEL) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

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

Vericel Stock Performance

Shares of VCEL stock traded up $0.96 on Thursday, reaching $48.65. 318,746 shares of the company’s stock traded hands, compared to its average volume of 525,413. The business’s 50 day moving average price is $47.24 and its two-hundred day moving average price is $41.61. The company has a market capitalization of $2.35 billion, a P/E ratio of -540.56 and a beta of 1.74. Vericel has a 12-month low of $30.18 and a 12-month high of $53.05.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Truist Financial reissued a “buy” rating and issued a $54.00 price target on shares of Vericel in a report on Tuesday, March 26th. TheStreet raised Vericel from a “d+” rating to a “c-” rating in a research note on Monday, January 29th. Finally, HC Wainwright boosted their target price on Vericel from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.80.

Insider Transactions at Vericel

In other Vericel news, CEO Dominick Colangelo sold 17,500 shares of the company’s stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Vericel news, CEO Dominick Colangelo sold 17,500 shares of the firm’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 sale, the chief executive officer now owns 195,307 shares of the company’s stock, valued at approximately $8,708,739.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Sean C. Flynn sold 8,115 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was 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 in the company, valued at approximately $7,570.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,267 shares of company stock valued at $2,450,996. 7.20% of the stock is owned by insiders.

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.