BTIG Research Analysts Give Vericel (NASDAQ:VCEL) a $24.00 Price Target

Vericel (NASDAQ:VCEL) has been given a $24.00 target price by analysts at BTIG Research in a research note issued on Monday, TipRanks reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. BTIG Research’s price target would indicate a potential upside of 50.38% from the stock’s current price.

A number of other research analysts have also recently issued reports on VCEL. Zacks Investment Research cut Vericel from a “buy” rating to a “hold” rating in a report on Saturday. Oppenheimer lifted their price objective on Vericel from $23.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Finally, BidaskClub cut Vericel from a “buy” rating to a “hold” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $23.48.

VCEL stock traded down $1.25 during midday trading on Monday, hitting $15.96. The stock had a trading volume of 19,524 shares, compared to its average volume of 588,890. The firm has a market capitalization of $795.35 million, a price-to-earnings ratio of -114.14 and a beta of 2.75. Vericel has a 52 week low of $10.30 and a 52 week high of $21.00. The stock’s 50-day simple moving average is $18.86. The company has a quick ratio of 7.12, a current ratio of 7.50 and a debt-to-equity ratio of 0.28.

Vericel (NASDAQ:VCEL) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.42. The firm had revenue of $26.15 million during the quarter, compared to analysts’ expectations of $24.13 million. Vericel had a negative return on equity of 0.99% and a negative net margin of 18.14%. Vericel’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same period last year, the business earned ($0.12) earnings per share. Equities analysts forecast that Vericel will post 0.09 earnings per share for the current fiscal year.

In other Vericel news, CFO Gerard J. Michel sold 17,500 shares of Vericel stock in a transaction on Monday, June 10th. The stock was sold at an average price of $15.62, for a total transaction of $273,350.00. Following the completion of the transaction, the chief financial officer now directly owns 131,422 shares of the company’s stock, valued at $2,052,811.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gerard J. Michel sold 17,000 shares of Vericel stock in a transaction on Monday, July 15th. The shares were sold at an average price of $19.68, for a total value of $334,560.00. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Vericel by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,607,132 shares of the biotechnology company’s stock valued at $49,249,000 after acquiring an additional 66,650 shares during the period. BlackRock Inc. lifted its position in shares of Vericel by 2.4% during the 2nd quarter. BlackRock Inc. now owns 3,168,165 shares of the biotechnology company’s stock worth $59,846,000 after buying an additional 73,814 shares during the last quarter. Northern Trust Corp lifted its position in shares of Vericel by 0.3% during the 2nd quarter. Northern Trust Corp now owns 562,769 shares of the biotechnology company’s stock worth $10,631,000 after buying an additional 1,691 shares during the last quarter. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Vericel during the 2nd quarter worth $11,655,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Vericel by 21.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 159,282 shares of the biotechnology company’s stock worth $3,009,000 after buying an additional 28,078 shares during the last quarter. Institutional investors own 90.80% of the company’s stock.

About Vericel

Vericel Corporation, a commercial-stage biopharmaceutical company, researches, develops, manufactures, and distributes cellular therapies for sports medicine and severe burn care markets. 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 Epicel, a permanent skin replacement humanitarian use device for the treatment of patients with deep-dermal or full-thickness burns.

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