Vericel Corporation (NASDAQ:VCEL) Given Consensus Rating of “Moderate Buy” by Analysts

Vericel Corporation (NASDAQ:VCEL) has been given an average rating of “Moderate Buy” by the seven analysts that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $58.75.

Several equities research analysts recently commented on the company. Wall Street Zen upgraded Vericel from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Zacks Research downgraded shares of Vericel from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Truist Financial reissued a “buy” rating and set a $50.00 target price (up from $41.00) on shares of Vericel in a research report on Monday, November 10th. BTIG Research lowered shares of Vericel from a “buy” rating to a “neutral” rating in a report on Wednesday, September 17th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Vericel in a research note on Tuesday, November 25th.

Vericel Trading Down 0.7%

NASDAQ:VCEL opened at $37.39 on Friday. The firm’s fifty day simple moving average is $36.27 and its 200 day simple moving average is $37.60. Vericel has a twelve month low of $29.24 and a twelve month high of $63.00. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 155.80 and a beta of 1.20.

Vericel (NASDAQ:VCEL) last announced its quarterly earnings results on Thursday, November 6th. The biotechnology company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.12. The firm had revenue of $67.50 million during the quarter, compared to the consensus estimate of $64.57 million. Vericel had a return on equity of 4.30% and a net margin of 5.06%.The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) EPS. On average, analysts predict that Vericel will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. CIBC Bancorp USA Inc. acquired a new stake in Vericel during the 3rd quarter valued at approximately $519,000. CANADA LIFE ASSURANCE Co raised its holdings in Vericel by 2.2% in the third quarter. CANADA LIFE ASSURANCE Co now owns 55,996 shares of the biotechnology company’s stock valued at $1,780,000 after acquiring an additional 1,185 shares in the last quarter. Woodline Partners LP bought a new position in Vericel during the 3rd quarter valued at $8,409,000. Verition Fund Management LLC grew its holdings in Vericel by 346.6% during the 3rd quarter. Verition Fund Management LLC now owns 70,772 shares of the biotechnology company’s stock worth $2,227,000 after acquiring an additional 54,926 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in Vericel during the 3rd quarter worth $1,978,000.

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.