H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on Vericel (VCEL – Research Report) yesterday and set a price target of $53.00. The company’s shares closed last Thursday at $30.43.
According to TipRanks.com, Ramakanth is a 1-star analyst with an average return of -1.7% and a 35.5% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Corvus Pharmaceuticals, Janux Therapeutics Inc, and Corcept Therapeutics.
Currently, the analyst consensus on Vericel is a Strong Buy with an average price target of $41.67, implying a 29.5% upside from current levels. In a report issued on July 20, Truist Financial also maintained a Buy rating on the stock with a $33.00 price target.
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Vericel’s market cap is currently $1.43B and has a P/E ratio of -85.48.
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Vericel Corp. engages in the research, product development, manufacture, and distribution of patient-specific, expanded cellular therapies for use in the treatment of patients with diseases. Its product portfolio includes MACI and Epicel. The MACI portfolio is FDA-approved product that applies the process of tissue engineering to grow cells on scaffolds using healthy cartilage tissue from the patient’s own knee. The Epicel portfolio provide skin replacement for patients who have deep dermal or full thickness burns. The company was founded on March 24, 1989 and is headquartered in Cambridge, MA.
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