Vericel (NASDAQ:VCEL) Given New $67.00 Price Target at Truist Financial

Vericel (NASDAQ:VCEL - Get Free Report) had its price target lifted by analysts at Truist Financial from $61.00 to $67.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the biotechnology company's stock. Truist Financial's price target suggests a potential upside of 17.28% from the company's current price.

A number of other equities research analysts have also issued reports on VCEL. Canaccord Genuity Group reissued a "buy" rating and issued a $60.00 price target on shares of Vericel in a report on Tuesday, November 19th. BTIG Research increased their price objective on Vericel from $56.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. HC Wainwright reissued a "buy" rating and set a $60.00 target price on shares of Vericel in a research note on Friday, November 8th. TD Cowen raised their price target on Vericel from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, August 27th. Finally, Stephens raised shares of Vericel to a "strong-buy" rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $61.14.

Vericel Price Performance

VCEL stock traded up $0.44 during mid-day trading on Wednesday, hitting $57.13. 21,853 shares of the stock were exchanged, compared to its average volume of 423,804. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 952.17 and a beta of 1.71. The business has a fifty day moving average price of $50.84 and a 200 day moving average price of $48.06. Vericel has a 12 month low of $32.31 and a 12 month high of $61.49.

Vericel (NASDAQ:VCEL - Get Free Report) last issued its earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $55.32 million. As a group, equities analysts forecast that Vericel will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling at Vericel

In other Vericel news, CEO Dominick Colangelo sold 17,500 shares of Vericel stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $41.38, for a total value of $724,150.00. Following the completion of the transaction, the chief executive officer now directly owns 220,937 shares of the company's stock, valued at approximately $9,142,373.06. The trade was a 7.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven C. Gilman sold 5,833 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 in the company, valued at approximately $443,850. This represents a 34.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,266 shares of company stock valued at $2,090,636. Corporate insiders own 5.20% of the company's stock.

Hedge Funds Weigh In On Vericel

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC grew its stake in shares of Vericel by 1.0% during the 3rd quarter. FMR LLC now owns 2,372,812 shares of the biotechnology company's stock valued at $100,251,000 after acquiring an additional 22,461 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in Vericel by 1.7% during the third quarter. Conestoga Capital Advisors LLC now owns 2,075,730 shares of the biotechnology company's stock valued at $87,700,000 after purchasing an additional 34,360 shares in the last quarter. Congress Asset Management Co. boosted its position in shares of Vericel by 37.4% in the third quarter. Congress Asset Management Co. now owns 1,291,720 shares of the biotechnology company's stock worth $54,575,000 after purchasing an additional 351,550 shares during the period. Geode Capital Management LLC increased its stake in Vericel by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,154,053 shares of the biotechnology company's stock worth $48,768,000 after buying an additional 9,613 shares in the last quarter. Finally, Geneva Capital Management LLC grew its holdings in Vericel by 61.4% during the 3rd quarter. Geneva Capital Management LLC now owns 1,104,386 shares of the biotechnology company's stock valued at $46,660,000 after buying an additional 420,078 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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