Vericel (NASDAQ:VCEL) Rating Increased to Hold at StockNews.com

Vericel (NASDAQ:VCEL - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Friday.

Several other research analysts also recently issued reports on VCEL. HC Wainwright raised their target price on shares of Vericel from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, May 9th. TD Cowen began coverage on shares of Vericel in a report on Thursday. They set a "buy" rating and a $55.00 target price for the company. Finally, Truist Financial reiterated a "buy" rating and set a $54.00 target price on shares of Vericel in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $48.17.

Vericel Stock Performance

Shares of NASDAQ:VCEL traded up $0.34 on Friday, hitting $45.00. 1,678,568 shares of the company were exchanged, compared to its average volume of 495,972. The company's 50 day moving average price is $46.59 and its two-hundred day moving average price is $44.08. Vericel has a one year low of $30.18 and a one year high of $53.05. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -4,495.50 and a beta of 1.74.

Vericel (NASDAQ:VCEL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.03. Vericel had a net margin of 0.22% and a return on equity of 0.21%. The firm had revenue of $51.28 million during the quarter, compared to analysts' expectations of $49.07 million. During the same quarter last year, the company earned ($0.16) earnings per share. The company's revenue for the quarter was up 25.0% compared to the same quarter last year. Research analysts predict that Vericel will post 0.09 earnings per share for the current year.

Insider Activity at Vericel

In related news, Director Robert L. Md Zerbe sold 3,278 shares of the firm's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $51.57, for a total value of $169,046.46. Following the completion of the sale, the director now directly owns 23,395 shares in the company, valued at approximately $1,206,480.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Dominick Colangelo sold 17,500 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $44.12, for a total value of $772,100.00. Following the transaction, the chief executive officer now directly owns 220,752 shares of the company's stock, valued at $9,739,578.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert L. Md Zerbe sold 3,278 shares of Vericel stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $51.57, for a total transaction of $169,046.46. Following the sale, the director now directly owns 23,395 shares of the company's stock, valued at approximately $1,206,480.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,278 shares of company stock valued at $1,721,471. Insiders own 5.20% of the company's stock.

Hedge Funds Weigh In On Vericel

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position in Vericel by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 402,099 shares of the biotechnology company's stock worth $13,478,000 after purchasing an additional 17,749 shares during the period. Citigroup Inc. boosted its position in shares of Vericel by 19.0% during the 3rd quarter. Citigroup Inc. now owns 71,271 shares of the biotechnology company's stock worth $2,389,000 after acquiring an additional 11,402 shares in the last quarter. Deutsche Bank AG increased its stake in Vericel by 18.7% in the third quarter. Deutsche Bank AG now owns 35,797 shares of the biotechnology company's stock valued at $1,200,000 after acquiring an additional 5,632 shares during the last quarter. Rhumbline Advisers increased its stake in Vericel by 0.5% in the third quarter. Rhumbline Advisers now owns 145,224 shares of the biotechnology company's stock valued at $4,868,000 after acquiring an additional 705 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Vericel by 8.1% during the third quarter. PNC Financial Services Group Inc. now owns 4,582 shares of the biotechnology company's stock valued at $154,000 after purchasing an additional 344 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.

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