Vericel (NASDAQ:VCEL) Given New $67.00 Price Target at Canaccord Genuity Group

Vericel (NASDAQ:VCEL) had its target price raised by Canaccord Genuity Group from $64.00 to $67.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

Other equities analysts have also recently issued reports about the company. HC Wainwright restated a “buy” rating and set a $60.00 price objective on shares of Vericel in a research note on Wednesday, January 15th. Stephens restated an “overweight” rating and set a $65.00 price target on shares of Vericel in a report on Wednesday, January 15th. StockNews.com upgraded shares of Vericel from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. BTIG Research boosted their target price on Vericel from $56.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Truist Financial boosted their price objective on Vericel from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.14.

Vericel Stock Performance

Shares of Vericel stock opened at $59.06 on Monday. Vericel has a 52 week low of $39.12 and a 52 week high of $61.99. The stock has a 50 day moving average price of $57.69 and a two-hundred day moving average price of $50.86. The stock has a market capitalization of $2.92 billion, a PE ratio of 984.50 and a beta of 1.72.

Vericel (NASDAQ:VCEL) last issued its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Vericel had a net margin of 1.56% and a return on equity of 1.48%. The firm had revenue of $57.91 million during the quarter, compared to analysts’ expectations of $55.32 million. Research analysts forecast that Vericel will post 0.14 EPS for the current year.

Insider Buying and Selling at Vericel

In other Vericel news, insider Jonathan Mark Hopper sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $58.72, for a total value of $587,200.00. Following the sale, the insider now owns 58,371 shares of the company’s stock, valued at $3,427,545.12. This trade represents a 14.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jonathan Siegal sold 3,908 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $61.99, for a total transaction of $242,256.92. Following the completion of the transaction, the insider now owns 1,206 shares in the company, valued at approximately $74,759.94. This trade represents a 76.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,008 shares of company stock valued at $1,132,129 in the last quarter. 7.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vericel

Hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its holdings in shares of Vericel by 4,126.7% during the 3rd quarter. International Assets Investment Management LLC now owns 634 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 619 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Vericel during the fourth quarter worth about $48,000. Farther Finance Advisors LLC boosted its holdings in shares of Vericel by 48.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,247 shares of the biotechnology company’s stock worth $53,000 after purchasing an additional 405 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Vericel by 22.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,773 shares of the biotechnology company’s stock valued at $77,000 after purchasing an additional 322 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Vericel during the 3rd quarter valued at about $92,000.

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.