Canaccord Genuity Group Increases Vericel (NASDAQ:VCEL) Price Target to $67.00

Vericel (NASDAQ:VCEL - Free Report) had its price objective lifted by Canaccord Genuity Group from $64.00 to $67.00 in a research report report published on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the biotechnology company's stock.

A number of other research firms have also issued reports on VCEL. HC Wainwright reissued a "buy" rating and set a $60.00 price target on shares of Vericel in a research report on Wednesday, January 15th. StockNews.com raised shares of Vericel from a "sell" rating to a "hold" rating in a research report on Tuesday, December 24th. Stephens reissued an "overweight" rating and set a $65.00 price target on shares of Vericel in a research report on Wednesday, January 15th. BTIG Research raised their price objective on shares of Vericel from $56.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Finally, Truist Financial raised their price objective on shares of Vericel from $61.00 to $67.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vericel presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.14.

Vericel Price Performance

NASDAQ VCEL traded down $2.10 during midday trading on Monday, hitting $59.70. 295,259 shares of the company traded hands, compared to its average volume of 421,511. Vericel has a 52 week low of $39.12 and a 52 week high of $63.00. The company's 50-day simple moving average is $57.80 and its 200-day simple moving average is $51.05. The company has a market cap of $2.95 billion, a PE ratio of 995.17 and a beta of 1.72.

Vericel (NASDAQ:VCEL - Get Free Report) last released its earnings results on Thursday, November 7th. The biotechnology company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.03. Vericel had a net margin of 1.56% and a return on equity of 1.48%. The company had revenue of $57.91 million during the quarter, compared to analysts' expectations of $55.32 million. On average, research analysts predict that Vericel will post 0.14 earnings per share for the current year.

Insider Activity

In related news, insider Jonathan Mark Hopper sold 10,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $58.72, for a total value of $587,200.00. Following the completion of the transaction, the insider now directly owns 58,371 shares of the company's stock, valued at approximately $3,427,545.12. This represents a 14.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert L. Md Zerbe sold 2,500 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $60.00, for a total value of $150,000.00. Following the completion of the transaction, the director now directly owns 26,595 shares of the company's stock, valued at approximately $1,595,700. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,008 shares of company stock worth $1,132,129 in the last quarter. Corporate insiders own 7.20% of the company's stock.

Institutional Trading of Vericel

Several large investors have recently added to or reduced their stakes in VCEL. Squarepoint Ops LLC purchased a new stake in Vericel in the 2nd quarter valued at $513,000. The Manufacturers Life Insurance Company grew its holdings in Vericel by 5.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,472 shares of the biotechnology company's stock valued at $1,215,000 after buying an additional 1,355 shares in the last quarter. Algert Global LLC purchased a new stake in Vericel in the 2nd quarter valued at $213,000. Northwestern Mutual Wealth Management Co. grew its holdings in Vericel by 104.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,108 shares of the biotechnology company's stock valued at $188,000 after buying an additional 2,103 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Vericel by 106.1% in the 3rd quarter. SG Americas Securities LLC now owns 24,486 shares of the biotechnology company's stock valued at $1,035,000 after buying an additional 12,605 shares in the last quarter.

Vericel Company Profile

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.