Vericel (NASDAQ:VCEL) Reaches New 12-Month High After Reporting Strong Earnings

Vericel Co. (NASDAQ:VCEL) attained a new 52-week high on Friday following the release of its latest quarterly earnings report, which exceeded expectations. The stock peaked at $54.47 before settling at $53.94, with a trading volume of 225,594 shares. The previous closing price was at $50.03.

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The biotechnology firm reported a loss of ($0.02) earnings per share (EPS) for the quarter, surpassing analysts' predictions of a loss of ($0.05) by $0.03. Vericel's net margin stood at 0.37%, and its return on equity was noted as 0.35%. During the quarter, the company generated revenue of $57.91 million, which was higher than the anticipated $55.32 million.

Insights from Wall Street Analysts

Several equities analysts have recently provided their perspectives on VCEL shares. StockNews.com downgraded the shares from a "hold" rating to a "sell" rating on October 8th. Meanwhile, Canaccord Genuity Group started covering Vericel on August 9th, where they assigned a "buy" rating and set a price target of $57.00. Truist Financial raised their price target from $56.00 to $57.00 and maintained a "buy" rating in their research report released on July 16th. Additionally, BTIG Research lowered their price target from $56.00 to $55.00, also keeping a "buy" rating. Currently, one research analyst rates the stock as a sell, while seven analysts recommend a buy. According to MarketBeat.com data, the stock has an average rating of "Moderate Buy" with a consensus price target of $57.71.

View Our Latest Stock Analysis on VCEL

Insider Trading Activity

In recent insider trading news, Director Steven C. Gilman sold 5,833 shares of Vericel stock on October 2nd at an average price of $40.35, amounting to a total transaction of $235,361.55. Post-sale, he retains ownership of 11,000 shares, valued at approximately $443,850. CEO Dominick Colangelo also sold 17,500 shares on October 16th at an average price of $41.38, totaling $724,150. Following this transaction, he owns 220,937 shares, estimated at $9,142,373.06. Insiders have sold a total of 29,166 shares worth $1,200,764 over the last three months, holding 7.20% of the company's stock.

Institutional Investment Trends

Several hedge funds have recently adjusted their positions in Vericel. Norden Group LLC added a new stake during the first quarter, valued at around $244,000. Mirae Asset Global Investments Co. Ltd improved its holdings by 7.1%, acquiring an additional 1,845 shares, bringing their total to 27,960 shares worth $1,454,000. BNP Paribas Financial Markets also boosted their position by nearly 100%, purchasing 55,796 additional shares to reach a total of 111,760 shares valued at $5,814,000. Texas Permanent School Fund Corp increased its ownership by 1.3%, while Lisanti Capital Growth LLC raised its stake by 14.1% during the same period.

Share Performance Overview

After earning growth news, Vericel's stock enjoyed a 7.6% increase. The stock is currently trading above its 50-day moving average of $44.22 and its 200-day moving average of $46.34. Vericel now has a market capitalization of approximately $2.64 billion, a PE ratio of -5,369,000.00, and a beta of 1.66.

Company Background

Vericel Corporation is a commercial-stage biopharmaceutical company that focuses on the research, manufacturing, and distribution of cellular therapies, primarily for sports medicine and severe burn treatment in North America. The company offers products like MACI (an autologous cultured chondrocytes therapy for knee cartilage repair), Epicel (a permanent skin replacement for burn patients), and NexoBrid (a treatment for eschar removal in burn care).

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This article was created using advanced technology to provide readers with precise information about Vericel’s stock movements and earnings updates.

Investment Considerations

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Vericel, Earnings, Stock