HC Wainwright Reaffirms Buy Rating for Vericel (NASDAQ:VCEL)

Vericel (NASDAQ:VCEL)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $60.00 price objective on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 20.92% from the stock’s previous close.

Other research analysts have also issued reports about the stock. BTIG Research lifted 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. StockNews.com upgraded shares of Vericel from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. Canaccord Genuity Group upped their price target on shares of Vericel from $64.00 to $67.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Stephens restated an “overweight” rating and set a $65.00 target price on shares of Vericel in a research report on Wednesday, January 15th. Finally, Truist Financial increased their price target on Vericel from $61.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Vericel currently has a consensus rating of “Moderate Buy” and an average target price of $63.14.

Vericel Price Performance

NASDAQ:VCEL opened at $49.62 on Friday. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 827.14 and a beta of 1.72. The business has a 50 day simple moving average of $57.30 and a 200-day simple moving average of $51.75. Vericel has a 1 year low of $39.12 and a 1 year high of $63.00.

Insider Buying and Selling

In other news, Director Paul K. Wotton sold 2,600 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $58.72, for a total value of $152,672.00. Following the completion of the sale, the director now owns 27,402 shares of the company’s stock, valued at approximately $1,609,045.44. This represents a 8.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan Mark Hopper sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $58.72, for a total transaction of $587,200.00. Following the transaction, the insider now owns 58,371 shares in the company, valued at approximately $3,427,545.12. This represents a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,100 shares of company stock valued at $1,206,072 over the last quarter. 5.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC grew its stake in Vericel by 4,126.7% in the third quarter. International Assets Investment Management LLC now owns 634 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 619 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Vericel in the 4th quarter valued at about $48,000. Farther Finance Advisors LLC grew its position in shares of Vericel by 48.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,247 shares of the biotechnology company’s stock worth $53,000 after buying an additional 405 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Vericel in the 4th quarter worth approximately $57,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Vericel by 511.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,265 shares of the biotechnology company’s stock worth $70,000 after acquiring an additional 1,058 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.