Shares of Vericel Co. (NASDAQ:VCEL – Get Rating) gapped down prior to trading on Wednesday . The stock had previously closed at $31.81, but opened at $29.85. Vericel shares last traded at $33.27, with a volume of 769 shares traded.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on VCEL shares. Truist Financial reduced their target price on Vericel to $33.00 in a report on Friday, July 22nd. BTIG Research dropped their target price on Vericel from $45.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, July 18th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company. According to MarketBeat, Vericel currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.33.
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Vericel Stock Down 4.1 %
The business has a 50-day moving average price of $27.02 and a 200-day moving average price of $31.68. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -121.72 and a beta of 1.98.
Vericel (NASDAQ:VCEL – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The biotechnology company reported ($0.15) EPS for the quarter, meeting the consensus estimate of ($0.15). Vericel had a negative net
margin of 7.15% and a negative return on equity of 6.93%. The company had revenue of $36.07 million for the quarter, compared to analyst estimates of $34.31 million. During the same period in the prior year, the company earned ($0.07) earnings per share. The firm's revenue was up 4.4% on a year-over-year basis. On average, equities research analysts forecast that Vericel Co. will post -0.23 earnings per share for the current year.
Institutional Investors Weigh In On Vericel
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in Vericel by 0.5% in the 1st quarter. BlackRock Inc. now owns 7,105,354 shares of the biotechnology company's stock valued at $271,566,000 after acquiring an additional 32,155 shares during the last quarter. State Street Corp boosted its position in Vericel by 4.7% in the 1st quarter. State Street Corp now owns 2,942,516 shares of the biotechnology company's stock valued at $112,463,000 after buying an additional 132,856 shares during the period. Conestoga Capital Advisors LLC boosted its position in Vericel by 54.7% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,596,810 shares of the biotechnology company's stock valued at $99,250,000 after buying an additional 918,299 shares during the period. Fisher Asset Management LLC boosted its position in Vericel by 18.9% in the 4th quarter. Fisher Asset Management LLC now owns 1,236,675 shares of the biotechnology company's stock valued at $48,601,000 after buying an additional 196,635 shares during the period. Finally, GW&K Investment Management LLC raised its holdings in shares of Vericel by 169.9% in the 1st quarter. GW&K Investment Management LLC now owns 907,249 shares of the biotechnology company's stock valued at $34,676,000 after purchasing an additional 571,139 shares in the last quarter.
About Vericel
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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 the United States. The company markets autologous cell therapy products comprising MACI, an autologous cellularized scaffold product for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; and Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns.
Further Reading
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