Vericel (NASDAQ:VCEL) Stock Rating Upgraded by BidaskClub

Vericel (NASDAQ:VCEL) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, BidAskClub reports.

VCEL has been the subject of several other research reports. Zacks Investment Research raised Vericel from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Tuesday. Oppenheimer increased their target price on Vericel from $23.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Vericel presently has an average rating of “Buy” and an average price target of $22.98.

NASDAQ VCEL traded down $0.63 on Wednesday, hitting $18.73. The company’s stock had a trading volume of 9,825 shares, compared to its average volume of 321,946. Vericel has a 52-week low of $9.70 and a 52-week high of $21.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 8.16 and a current ratio of 8.47. The firm’s 50-day simple moving average is $18.62. The firm has a market capitalization of $850.10 million, a price-to-earnings ratio of -136.64 and a beta of 2.83.

Vericel (NASDAQ:VCEL) last released its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). Vericel had a negative return on equity of 3.40% and a negative net margin of 3.51%. The business had revenue of $21.81 million during the quarter, compared to analysts’ expectations of $22.51 million. During the same quarter last year, the business posted ($0.21) EPS. The business’s revenue was up 21.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Vericel will post 0.09 earnings per share for the current fiscal year.

In related news, CFO Gerard J. Michel sold 17,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $19.68, for a total transaction of $334,560.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Gerard J. Michel sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $15.62, for a total value of $273,350.00. Following the transaction, the chief financial officer now directly owns 131,422 shares of the company’s stock, valued at approximately $2,052,811.64. The disclosure for this sale can be found here. Insiders sold a total of 52,000 shares of company stock valued at $905,760 in the last three months. Corporate insiders own 4.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Great West Life Assurance Co. Can bought a new stake in shares of Vericel in the 4th quarter worth $78,000. Bank of New York Mellon Corp increased its holdings in shares of Vericel by 85.7% in the 4th quarter. Bank of New York Mellon Corp now owns 245,419 shares of the biotechnology company’s stock worth $4,270,000 after purchasing an additional 113,270 shares in the last quarter. Pearl River Capital LLC bought a new stake in shares of Vericel in the 1st quarter worth $72,000. American Century Companies Inc. bought a new stake in shares of Vericel in the 4th quarter worth $2,275,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Vericel by 12.4% in the 4th quarter. Principal Financial Group Inc. now owns 21,484 shares of the biotechnology company’s stock worth $374,000 after purchasing an additional 2,362 shares in the last quarter. 86.59% of the stock is owned by institutional investors.

Vericel Company Profile

Vericel Corporation, a commercial-stage biopharmaceutical company, researches, develops, manufactures, and distributes cellular therapies for sports medicine and severe burn care markets. It markets autologous cell therapy products, including MACI, an autologous cellularized scaffold product for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; and Epicel, a permanent skin replacement humanitarian use device for the treatment of patients with deep-dermal or full-thickness burns.

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