Vericel (NASDAQ:VCEL) Rating Reiterated by Truist Financial

Vericel (NASDAQ:VCEL)‘s stock had its “buy” rating restated by research analysts at Truist Financial in a report released on Tuesday, Benzinga reports. They currently have a $54.00 price target on the biotechnology company’s stock. Truist Financial’s price target would suggest a potential upside of 3.19% from the company’s current price.

Other analysts have also issued reports about the stock. TheStreet upgraded shares of Vericel from a “d+” rating to a “c-” rating in a research report on Monday, January 29th. HC Wainwright lifted their target price on shares of Vericel from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, March 1st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.40.

Vericel Stock Performance

NASDAQ:VCEL opened at $52.33 on Tuesday. The firm’s 50-day moving average is $45.47 and its 200-day moving average is $38.64. Vericel has a 52-week low of $28.02 and a 52-week high of $52.43. The company has a market cap of $2.53 billion, a price-to-earnings ratio of -581.38 and a beta of 1.69.

Vericel (NASDAQ:VCEL) last issued its earnings results on Thursday, February 29th. The biotechnology company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.08. Vericel had a negative net margin of 1.61% and a negative return on equity of 1.55%. The business had revenue of $65.00 million for the quarter, compared to analyst estimates of $64.28 million. During the same period in the previous year, the business earned $0.12 EPS. The firm’s revenue was up 23.3% on a year-over-year basis. Equities analysts predict that Vericel will post 0.09 EPS for the current year.

Insider Buying and Selling at Vericel

In other news, CEO Dominick Colangelo sold 17,500 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $44.67, for a total transaction of $781,725.00. Following the sale, the chief executive officer now directly owns 194,870 shares of the company’s stock, valued at $8,704,842.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Dominick Colangelo sold 17,500 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $44.67, for a total transaction of $781,725.00. Following the sale, the chief executive officer now directly owns 194,870 shares of the company’s stock, valued at $8,704,842.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Sean C. Flynn sold 8,115 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $45.33, for a total transaction of $367,852.95. Following the sale, the senior vice president now directly owns 167 shares in the company, valued at $7,570.11. The disclosure for this sale can be found here. Insiders have sold a total of 62,915 shares of company stock worth $2,676,022 over the last ninety days. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Vericel

Large investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its holdings in Vericel by 54.4% in the third quarter. Envestnet Asset Management Inc. now owns 126,383 shares of the biotechnology company’s stock valued at $4,236,000 after buying an additional 44,507 shares during the period. Federated Hermes Inc. lifted its holdings in Vericel by 6.5% in the third quarter. Federated Hermes Inc. now owns 462,467 shares of the biotechnology company’s stock valued at $15,502,000 after buying an additional 28,262 shares during the period. Citigroup Inc. lifted its holdings in Vericel by 19.0% in the third quarter. Citigroup Inc. now owns 71,271 shares of the biotechnology company’s stock valued at $2,389,000 after buying an additional 11,402 shares during the period. FMR LLC lifted its holdings in Vericel by 39.5% in the third quarter. FMR LLC now owns 571,298 shares of the biotechnology company’s stock valued at $19,150,000 after buying an additional 161,652 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in Vericel by 8.7% in the second quarter. ProShare Advisors LLC now owns 7,436 shares of the biotechnology company’s stock valued at $279,000 after buying an additional 593 shares during the period.

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.