Truist Financial Reaffirms "Buy" Rating for Vericel (NASDAQ:VCEL)

Truist Financial reissued their buy rating on shares of Vericel (NASDAQ:VCEL - Free Report) in a research report released on Monday morning,Benzinga reports. The brokerage currently has a $61.00 price target on the biotechnology company's stock, down from their prior price target of $67.00.

Several other research firms have also recently issued reports on VCEL. HC Wainwright reaffirmed a "buy" rating and set a $60.00 price objective on shares of Vericel in a research report on Friday, February 28th. StockNews.com downgraded Vericel from a "hold" rating to a "sell" rating in a report on Friday, February 28th. Stephens reiterated an "overweight" rating and issued a $65.00 price target on shares of Vericel in a research note on Wednesday, January 15th. BTIG Research boosted their price objective on shares of Vericel from $56.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Finally, Canaccord Genuity Group upped their target price on shares of Vericel from $64.00 to $67.00 and gave the company a "buy" rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Vericel has an average rating of "Moderate Buy" and an average price target of $62.29.

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Vericel Price Performance

Shares of Vericel stock traded down $2.77 during trading on Monday, hitting $48.76. 315,351 shares of the stock were exchanged, compared to its average volume of 418,659. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 812.80 and a beta of 1.72. The firm's 50-day moving average price is $56.81 and its 200 day moving average price is $51.93. Vericel has a 12-month low of $39.12 and a 12-month high of $63.00.

Insider Activity

In related news, insider Jonathan Siegal sold 3,908 shares of the firm's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $61.99, for a total transaction of $242,256.92. Following the transaction, the insider now owns 1,206 shares of the company's stock, valued at $74,759.94. This trade represents a 76.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert L. Md Zerbe sold 2,500 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $62.50, for a total value of $156,250.00. Following the sale, the director now directly owns 26,595 shares of the company's stock, valued at approximately $1,662,187.50. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock valued at $466,200 in the last ninety days. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vericel

A number of hedge funds and other institutional investors have recently bought and sold shares of VCEL. FMR LLC lifted its stake in shares of Vericel by 1.0% in the 3rd quarter. FMR LLC now owns 2,372,812 shares of the biotechnology company's stock worth $100,251,000 after acquiring an additional 22,461 shares during the period. Congress Asset Management Co. lifted its position in Vericel by 12.6% in the fourth quarter. Congress Asset Management Co. now owns 1,454,139 shares of the biotechnology company's stock valued at $79,847,000 after purchasing an additional 162,419 shares during the period. Wellington Management Group LLP lifted its position in Vericel by 119.3% in the fourth quarter. Wellington Management Group LLP now owns 1,288,921 shares of the biotechnology company's stock valued at $70,775,000 after purchasing an additional 701,064 shares during the period. GW&K Investment Management LLC boosted its holdings in Vericel by 2.4% in the 4th quarter. GW&K Investment Management LLC now owns 1,273,964 shares of the biotechnology company's stock valued at $69,953,000 after purchasing an additional 30,180 shares in the last quarter. Finally, William Blair Investment Management LLC increased its position in Vericel by 66.3% during the 4th quarter. William Blair Investment Management LLC now owns 1,258,416 shares of the biotechnology company's stock worth $69,100,000 after purchasing an additional 501,736 shares during the period.

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.