Stephens Issues Positive Forecast for Vericel (NASDAQ:VCEL) Stock Price

Vericel (NASDAQ:VCEL) had its price objective raised by Stephens from $55.00 to $68.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Stephens‘s target price indicates a potential upside of 16.46% from the stock’s current price.

Several other research analysts have also recently commented on the stock. TD Cowen raised their target price on shares of Vericel from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Vericel in a research report on Thursday, October 29th. Wall Street Zen raised shares of Vericel from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Truist Financial boosted their target price on shares of Vericel from $52.00 to $65.00 and gave the company a “buy” rating in a research note on Friday. Finally, HC Wainwright increased their target price on Vericel from $72.00 to $75.00 and gave the company a “buy” rating in a report on Friday. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Vericel presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Vericel Stock Up 6.9%

Shares of NASDAQ VCEL opened at $58.39 on Tuesday. Vericel has a 52-week low of $28.95 and a 52-week high of $59.48. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 91.24 and a beta of 1.08. The stock’s fifty day simple moving average is $41.36 and its 200 day simple moving average is $39.00.

Vericel (NASDAQ:VCEL) last issued its quarterly earnings results on Thursday, November 5th. The biotechnology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.21. The firm had revenue of $85.37 million for the quarter, compared to analysts’ expectations of $77.95 million. Vericel had a return on equity of 6.91% and a net margin of 7.91%. Vericel’s revenue was up 26.5% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. As a group, analysts anticipate that Vericel will post 0.54 earnings per share for the current year.

Insider Transactions at Vericel

In related news, insider Jonathan Siegal sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $52.90, for a total transaction of $79,350.00. Following the completion of the sale, the insider directly owned 1,259 shares in the company, valued at approximately $66,601.10. This trade represents a 54.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sean Flynn sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $51.92, for a total transaction of $778,800.00. Following the sale, the insider owned 1,990 shares of the company’s stock, valued at approximately $103,320.80. This represents a 88.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 22,000 shares of company stock valued at $1,128,340 over the last three months. 7.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vericel

A number of hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. raised its stake in Vericel by 24.8% during the third quarter. Hantz Financial Services Inc. now owns 1,194 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 237 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Vericel by 17.7% during the second quarter. GAMMA Investing LLC now owns 1,886 shares of the biotechnology company’s stock valued at $84,000 after acquiring an additional 283 shares during the period. Kopp Family Office LLC boosted its stake in shares of Vericel by 0.6% in the 3rd quarter. Kopp Family Office LLC now owns 51,352 shares of the biotechnology company’s stock valued at $2,061,000 after purchasing an additional 299 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Vericel by 0.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 157,081 shares of the biotechnology company’s stock valued at $6,195,000 after purchasing an additional 435 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Vericel by 2.2% in the 2nd quarter. Handelsbanken Fonder AB now owns 23,079 shares of the biotechnology company’s stock valued at $1,027,000 after purchasing an additional 500 shares in the last quarter.

About Vericel

Vericel Corporation is a biopharmaceutical company focused on developing and commercializing cell therapies and other treatments for serious conditions. Based in Cambridge, Massachusetts, the company markets its products primarily in the United States.

Its products include MACI, an implant made from a patient’s own cultured cartilage cells used to repair certain cartilage defects in the knee, and Epicel, a cultured skin graft used to treat patients with deep burns. Vericel also commercializes NexoBrid in the United States, an enzyme-based treatment for removing dead tissue from severe thermal burns.

The company traces its roots to Aastrom Biosciences and adopted the Vericel name in 2014.