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

Vericel Co. (NASDAQ:VCEL) achieved a new 52-week high on Friday as it announced stronger-than-expected quarterly earnings. The stock hit a peak of $54.47 during trading and ended the day at $53.94, with a total volume of 225,594 shares traded. This marked a significant increase from the previous closing price of $50.03.

Earnings Performance

The biotechnology firm reported earnings per share (EPS) of ($0.02), exceeding analysts' expectations of ($0.05) by $0.03. Vericel achieved a net margin of 0.37% and a return on equity of 0.35%. The company's revenue for the quarter amounted to $57.91 million, surpassing the forecasted revenue of $55.32 million.

Analysts' Insights

A range of analysts recently provided their insights on VCEL shares. StockNews.com downgraded Vericel's rating from "hold" to "sell" on October 8th. Conversely, Canaccord Genuity Group initiated coverage on Vericel with a "buy" rating and a target price of $57.00 on August 9th. Truist Financial raised their price target from $56.00 to $57.00 along with a "buy" rating on July 16th. Additionally, BTIG Research adjusted their target price from $56.00 to $55.00, maintaining a "buy" rating. Currently, one analyst rates the stock as a sell, while seven analysts give it a buy rating. MarketBeat.com states that Vericel has an average rating of "Moderate Buy" with a consensus price target of $57.71.

Insider Transactions

On October 2nd, Director Steven C. Gilman sold 5,833 shares at an average price of $40.35, totaling $235,361.55. After this transaction, he holds 11,000 shares valued at approximately $443,850, reflecting a minimal decrease in his ownership. CEO Dominick Colangelo also sold 17,500 shares on October 16th at an average price of $41.38, totaling $724,150. Following the sale, he owns 220,937 shares valued at about $9,142,373.06. In total, insiders sold 29,166 shares worth about $1,200,764 over the past three months, with insiders holding 7.20% of the company's stock.

Hedge Fund Activity

Recent hedge fund activity shows several firms adjusting their positions in Vericel. Norden Group LLC acquired a new stake in the company worth around $244,000 in the first quarter. Mirae Asset Global Investments increased its position by 7.1%, now owning 27,960 shares valued at $1,454,000. BNP Paribas Financial Markets doubled its shareholding, owning 111,760 shares worth $5,814,000. Texas Permanent School Fund Corp and Lisanti Capital Growth LLC also reported increases in their holdings during the same period.

Stock Performance Overview

Vericel's stock has shown a notable increase of 7.6% recently. It currently has a 50-day moving average of $44.22 and a 200-day average of $46.34. The company boasts a market capitalization of $2.64 billion, with a PE ratio of -5,369,000.00 and a beta of 1.66.

About Vericel Corporation

Vericel Corporation is a biopharmaceutical company focused on the research, development, manufacturing, and distribution of cellular therapies intended for sports medicine and severe burn care markets in North America. The company produces several autologous cell therapy products, including MACI for cartilage repair, Epicel for skin replacement in burn patients, and NexoBrid, a biological orphan product for deep partial-thickness burns.

Vericel, Earnings, Stocks