Vericel (NASDAQ:VCEL) Price Target Raised to $67.00 at Canaccord Genuity Group

Vericel (NASDAQ:VCEL) had its price objective increased by analysts at Canaccord Genuity Group from $64.00 to $67.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 14.45% from the company’s current price.

Several other equities research analysts have also commented on VCEL. Stephens reissued an “overweight” rating and set a $65.00 price target on shares of Vericel in a research note on Wednesday, January 15th. HC Wainwright reissued a “buy” rating and set a $60.00 price target on shares of Vericel in a research note on Wednesday, January 15th. Truist Financial boosted their price target on Vericel from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. BTIG Research upped their target price on Vericel from $56.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, StockNews.com raised Vericel from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.14.

Vericel Trading Down 1.2 %

Shares of VCEL opened at $58.54 on Monday. Vericel has a twelve month low of $39.12 and a twelve month high of $61.99. The stock’s 50 day moving average is $57.69 and its two-hundred day moving average is $50.86. The firm has a market capitalization of $2.89 billion, a PE ratio of 975.83 and a beta of 1.72.

Vericel (NASDAQ:VCEL) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. The business had revenue of $57.91 million for the quarter, compared to analyst estimates of $55.32 million. Vericel had a return on equity of 1.48% and a net margin of 1.56%. On average, sell-side analysts predict that Vericel will post 0.14 EPS for the current year.

Insider Buying and Selling at Vericel

In other news, Director Paul K. Wotton sold 2,600 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $58.72, for a total transaction of $152,672.00. Following the completion of the sale, the director now directly owns 27,402 shares in the company, valued at $1,609,045.44. This represents a 8.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert L. Md Zerbe sold 2,500 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $60.00, for a total transaction of $150,000.00. Following the sale, the director now directly owns 26,595 shares of the company’s stock, valued at approximately $1,595,700. This trade represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,008 shares of company stock worth $1,132,129. Insiders own 7.20% of the company’s stock.

Institutional Trading of Vericel

A number of institutional investors have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System lifted its position in shares of Vericel by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 23,900 shares of the biotechnology company’s stock worth $1,312,000 after purchasing an additional 200 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Vericel by 22.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,773 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 322 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Vericel by 48.1% during the third 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 during the last quarter. Linden Thomas Advisory Services LLC lifted its position in shares of Vericel by 1.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 43,781 shares of the biotechnology company’s stock worth $2,404,000 after purchasing an additional 489 shares during the last quarter. Finally, PFG Investments LLC lifted its position in shares of Vericel by 8.0% during the third quarter. PFG Investments LLC now owns 7,400 shares of the biotechnology company’s stock worth $313,000 after purchasing an additional 550 shares during the last quarter.

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.