Vericel (NASDAQ:VCEL) Given New $66.00 Price Target at BTIG Research

Vericel (NASDAQ:VCEL) had its price objective raised by BTIG Research from $56.00 to $66.00 in a report issued on Tuesday morning,Benzinga reports. BTIG Research currently has a buy rating on the biotechnology company’s stock.

A number of other research analysts have also recently weighed in on VCEL. TD Cowen raised their price target on Vericel from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. HC Wainwright restated a “buy” rating and set a $60.00 target price on shares of Vericel in a report on Friday, November 8th. StockNews.com raised shares of Vericel from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Canaccord Genuity Group reissued a “buy” rating and set a $60.00 price objective on shares of Vericel in a research note on Tuesday, November 19th. Finally, Canaccord Genuity Group began coverage on Vericel in a research note on Friday, August 9th. They issued a “buy” rating and a $57.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.71.

Vericel Trading Up 0.7 %

Shares of VCEL opened at $58.14 on Tuesday. Vericel has a twelve month low of $32.31 and a twelve month high of $61.49. The firm has a market capitalization of $2.87 billion, a P/E ratio of 969.00 and a beta of 1.66. The firm’s 50-day moving average is $47.35 and its two-hundred day moving average is $47.36.

Vericel (NASDAQ:VCEL) last released its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping 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 business had revenue of $57.91 million for the quarter, compared to analysts’ expectations of $55.32 million. Analysts predict that Vericel will post 0.13 EPS for the current year.

Insider Buying and Selling at Vericel

In other news, Director Steven C. Gilman sold 5,833 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $40.35, for a total transaction of $235,361.55. Following the completion of the transaction, the director now owns 11,000 shares of the company’s stock, valued at $443,850. This represents a 34.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Dominick Colangelo sold 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $41.38, for a total transaction of $724,150.00. Following the completion of the sale, the chief executive officer now directly owns 220,937 shares in the company, valued at $9,142,373.06. This represents a 7.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 31,666 shares of company stock worth $1,350,764. Insiders own 5.20% of the company’s stock.

Institutional Trading of Vericel

Several institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its holdings in Vericel by 4,126.7% in the third quarter. International Assets Investment Management LLC now owns 634 shares of the biotechnology company’s stock valued at $27,000 after acquiring an additional 619 shares during the last quarter. CWM LLC raised its holdings in shares of Vericel by 319.0% in the 2nd quarter. CWM LLC now owns 662 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 504 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Vericel by 48.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,247 shares of the biotechnology company’s stock valued at $53,000 after purchasing an additional 405 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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 during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Vericel during the 3rd quarter worth approximately $92,000.

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.