Truist Securiti Comments on Vericel Corp’s Q3 2020 Earnings (NASDAQ:VCEL)

Vericel Corp (NASDAQ:VCEL) – Research analysts at Truist Securiti issued their Q3 2020 earnings per share (EPS) estimates for Vericel in a report issued on Wednesday, September 16th. Truist Securiti analyst K. Krum anticipates that the biotechnology company will post earnings per share of ($0.02) for the quarter. Truist Securiti also issued estimates for Vericel’s Q4 2020 earnings at $0.13 EPS, FY2020 earnings at ($0.18) EPS, Q1 2021 earnings at $0.00 EPS, Q2 2021 earnings at $0.01 EPS, Q3 2021 earnings at $0.02 EPS, Q4 2021 earnings at $0.21 EPS, FY2021 earnings at $0.24 EPS and FY2022 earnings at $0.79 EPS.

Vericel (NASDAQ:VCEL) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. The company had revenue of $20.00 million for the quarter, compared to analysts’ expectations of $19.31 million. The business’s revenue for the quarter was down 23.7% compared to the same quarter last year. During the same period last year, the company posted ($0.05) EPS.

VCEL has been the subject of a number of other research reports. Truist assumed coverage on Vericel in a research note on Thursday, September 17th. They issued a “buy” rating and a $24.00 price target for the company. Needham & Company LLC assumed coverage on Vericel in a research note on Wednesday, August 5th. They issued a “hold” rating for the company. Oppenheimer reaffirmed a “buy” rating and issued a $32.00 price target on shares of Vericel in a research note on Monday. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price target on shares of Vericel in a research note on Thursday, August 6th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $21.00 price target on shares of Vericel in a research note on Wednesday, September 9th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Vericel currently has an average rating of “Buy” and a consensus target price of $23.17.

NASDAQ:VCEL opened at $18.40 on Monday. The firm has a market cap of $832.60 million, a PE ratio of -1,840.00 and a beta of 2.88. Vericel has a fifty-two week low of $6.78 and a fifty-two week high of $19.64. The company has a debt-to-equity ratio of 0.19, a quick ratio of 5.92 and a current ratio of 6.39. The business has a 50 day moving average price of $16.54 and a 200-day moving average price of $14.26.

A number of institutional investors and hedge funds have recently bought and sold shares of VCEL. Great Point Partners LLC bought a new position in Vericel in the second quarter worth $22,252,000. Waddell & Reed Financial Inc. increased its holdings in shares of Vericel by 21.1% during the first quarter. Waddell & Reed Financial Inc. now owns 3,266,058 shares of the biotechnology company’s stock valued at $29,950,000 after acquiring an additional 568,911 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Vericel by 1,431.0% during the second quarter. New York State Common Retirement Fund now owns 584,825 shares of the biotechnology company’s stock valued at $8,082,000 after acquiring an additional 546,625 shares in the last quarter. Summit Creek Advisors LLC bought a new position in shares of Vericel during the second quarter valued at $6,528,000. Finally, Granahan Investment Management Inc. MA increased its holdings in shares of Vericel by 153.6% during the first quarter. Granahan Investment Management Inc. MA now owns 725,571 shares of the biotechnology company’s stock valued at $6,653,000 after acquiring an additional 439,482 shares in the last quarter. Institutional investors and hedge funds own 94.98% of the company’s stock.

Vericel Company Profile

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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Earnings History and Estimates for Vericel (NASDAQ:VCEL)

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