Vericel (NASDAQ:VCEL) Hits New 12-Month High Following Earnings Beat

Vericel Co. (NASDAQ:VCEL)’s share price hit a new 52-week high on Friday following a stronger than expected earnings report. The stock traded as high as $54.47 and last traded at $53.94, with a volume of 225594 shares traded. The stock had previously closed at $50.03.

The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $57.91 million during the quarter, compared to analyst estimates of $55.32 million. Vericel had a return on equity of 0.35% and a net margin of 0.37%.

Analysts Set New Price Targets

A number of analysts have weighed in on VCEL shares. Canaccord Genuity Group started coverage on Vericel in a research report on Friday, August 9th. They set a “buy” rating and a $57.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price objective on shares of Vericel in a research report on Friday. Stephens raised their price target on Vericel from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. TD Cowen raised their price target on Vericel from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Finally, StockNews.com downgraded Vericel from a “hold” rating to a “sell” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to MarketBeat, Vericel presently has a consensus rating of “Moderate Buy” and an average price target of $57.71.

Insiders Place Their Bets

In related news, CEO Dominick Colangelo sold 17,500 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $41.38, for a total value of $724,150.00. Following the transaction, the chief executive officer now owns 220,937 shares in the company, valued at approximately $9,142,373.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Dominick Colangelo sold 17,500 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $41.38, for a total value of $724,150.00. Following the transaction, the chief executive officer now owns 220,937 shares in the company, valued at approximately $9,142,373.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven C. Gilman sold 5,833 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $41.36, for a total value of $241,252.88. Following the completion of the sale, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $454,960. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,166 shares of company stock worth $1,200,764 over the last quarter. 7.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vericel

Several hedge funds and other institutional investors have recently made changes to their positions in VCEL. Norden Group LLC acquired a new position in shares of Vericel during the first quarter worth approximately $244,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Vericel by 7.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,960 shares of the biotechnology company’s stock worth $1,454,000 after purchasing an additional 1,845 shares during the period. BNP Paribas Financial Markets lifted its position in Vericel by 99.7% in the first quarter. BNP Paribas Financial Markets now owns 111,760 shares of the biotechnology company’s stock worth $5,814,000 after purchasing an additional 55,796 shares during the period. Texas Permanent School Fund Corp lifted its position in Vericel by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 41,768 shares of the biotechnology company’s stock worth $2,173,000 after purchasing an additional 541 shares during the period. Finally, Lisanti Capital Growth LLC lifted its position in Vericel by 14.1% in the first quarter. Lisanti Capital Growth LLC now owns 116,230 shares of the biotechnology company’s stock worth $6,046,000 after purchasing an additional 14,335 shares during the period.

Vericel Stock Up 7.6 %

The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -5,369,000.00 and a beta of 1.66. The business has a 50-day simple moving average of $44.22 and a two-hundred day simple moving average of $46.34.

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.