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

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

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

Vericel Stock Down 1.2 %

Shares of VCEL stock opened at $58.54 on Monday. The business has a 50 day moving average of $57.69 and a two-hundred day moving average of $50.86. Vericel has a 52 week low of $39.12 and a 52 week high of $61.99. The company has a market cap of $2.89 billion, a P/E ratio of 975.83 and a beta of 1.72.

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

Insider Buying and Selling

In other Vericel news, Director Paul K. Wotton sold 2,600 shares of Vericel stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $58.72, for a total value of $152,672.00. Following the transaction, the director now owns 27,402 shares in the company, valued at approximately $1,609,045.44. The trade was a 8.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert L. Md Zerbe sold 2,500 shares of Vericel stock in a transaction that occurred 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 completion of the transaction, the director now owns 26,595 shares in the company, valued at approximately $1,595,700. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,008 shares of company stock valued at $1,132,129 over the last quarter. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Vericel

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its position in Vericel by 0.8% during the 4th 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in 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 worth $77,000 after purchasing an additional 322 shares in the last quarter. Farther Finance Advisors LLC grew its position in Vericel by 48.1% during 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. Linden Thomas Advisory Services LLC grew its position in Vericel by 1.1% during the 4th 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 in the last quarter. Finally, PFG Investments LLC grew its position in Vericel by 8.0% during the 3rd quarter. PFG Investments LLC now owns 7,400 shares of the biotechnology company’s stock worth $313,000 after purchasing an additional 550 shares in 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.