Vericel Corporation (VCEL) PT Set at $6.00 by BTIG Research
Vericel Corporation (NASDAQ:VCEL) has been assigned a $6.00 target price by analysts at BTIG Research in a research note issued to investors on Monday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. BTIG Research’s price target indicates a potential upside of 13.21% from the stock’s current price.
Separately, Piper Jaffray Companies reaffirmed a “buy” rating and set a $7.00 price target on shares of Vericel Corporation in a research report on Thursday, August 10th.
Vericel Corporation (NASDAQ VCEL) traded down 11.30% on Monday, reaching $5.30. The company had a trading volume of 4,328,174 shares. The stock’s 50-day moving average is $4.53 and its 200-day moving average is $3.32. The company’s market capitalization is $173.97 million. Vericel Corporation has a 52 week low of $2.00 and a 52 week high of $6.30.
Vericel Corporation (NASDAQ:VCEL) last issued its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.16. The business had revenue of $16.95 million for the quarter. Equities research analysts forecast that Vericel Corporation will post ($0.63) EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of Vericel Corporation by 13.8% during the second quarter. Bank of New York Mellon Corp now owns 37,202 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 4,523 shares in the last quarter. Perkins Capital Management Inc. increased its position in shares of Vericel Corporation by 12.6% during the second quarter. Perkins Capital Management Inc. now owns 257,600 shares of the biotechnology company’s stock worth $850,000 after purchasing an additional 28,850 shares in the last quarter. First Washington CORP acquired a new position in shares of Vericel Corporation during the second quarter worth $2,230,000. Vanguard Group Inc. increased its position in shares of Vericel Corporation by 7.9% during the second quarter. Vanguard Group Inc. now owns 1,212,799 shares of the biotechnology company’s stock worth $4,002,000 after purchasing an additional 88,645 shares in the last quarter. Finally, Archon Capital Management LLC acquired a new position in shares of Vericel Corporation during the second quarter worth $4,412,000. 33.84% of the stock is currently owned by institutional investors and hedge funds.
Vericel Corporation Company Profile
Vericel Corporation, formerly Aastrom Biosciences, Inc, is a commercial-stage biopharmaceutical company dedicated to the identification, development and commercialization of therapies that enable the body to repair and regenerate damaged tissues and organs to restore normal structure and function. The Company operates through the research, product development, manufacture and distribution of patient-specific, expanded cellular therapies for use in the treatment of specific diseases segment.
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