Vericel Corp (NASDAQ:VCEL) has earned a consensus rating of “Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $14.00.
Several analysts have weighed in on the stock. BTIG Research reissued a “buy” rating and issued a $13.00 price target (up from $8.00) on shares of Vericel in a research note on Monday, March 5th. ValuEngine raised shares of Vericel from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Piper Jaffray Companies reissued an “overweight” rating and issued a $9.00 price target on shares of Vericel in a research note on Tuesday, January 2nd. BidaskClub upgraded shares of Vericel from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 7th. Finally, Ladenburg Thalmann Financial Services cut shares of Vericel from a “buy” rating to a “neutral” rating in a research report on Tuesday, March 6th.
Hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. purchased a new position in shares of Vericel in the fourth quarter valued at about $105,000. Bank of New York Mellon Corp increased its position in shares of Vericel by 13.8% in the second quarter. Bank of New York Mellon Corp now owns 37,202 shares of the biotechnology company’s stock valued at $123,000 after acquiring an additional 4,523 shares during the period. Bank of Montreal Can purchased a new position in shares of Vericel in the fourth quarter valued at about $140,000. Wells Fargo & Company MN increased its position in shares of Vericel by 1,374.2% in the fourth quarter. Wells Fargo & Company MN now owns 30,029 shares of the biotechnology company’s stock valued at $163,000 after acquiring an additional 27,992 shares during the period. Finally, Citadel Advisors LLC purchased a new position in shares of Vericel in the third quarter valued at about $235,000. Hedge funds and other institutional investors own 37.22% of the company’s stock.
Vericel (NASDAQ:VCEL) last posted its quarterly earnings results on Monday, March 5th. The biotechnology company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.13. The business had revenue of $23.35 million during the quarter. Vericel had a negative net margin of 27.04% and a negative return on equity of 98.77%. analysts predict that Vericel will post -0.14 earnings per share for the current year.
Vericel Corporation, formerly Aastrom Biosciences, Inc, is a commercial-stage biopharmaceutical company dedicated to the identification, development and commercialization of therapies that enable the body to repair and regenerate damaged tissues and organs to restore normal structure and function. The Company operates through the research, product development, manufacture and distribution of patient-specific, expanded cellular therapies for use in the treatment of specific diseases segment.
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