Vericel (NASDAQ:VCEL) Posts Earnings Results, Hits Expectations

Vericel (NASDAQ:VCEL) issued its quarterly earnings data on Thursday. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10), Briefing.com reports. Vericel had a return on equity of 0.21% and a net margin of 0.22%. The business had revenue of $52.70 million during the quarter, compared to the consensus estimate of $52.59 million. During the same period in the previous year, the firm posted ($0.11) earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. Vericel updated its FY 2024 guidance to EPS.

Vericel Price Performance

Shares of VCEL traded up $0.10 during trading hours on Friday, hitting $47.62. 360,085 shares of the company were exchanged, compared to its average volume of 466,984. The firm has a fifty day simple moving average of $47.20 and a 200-day simple moving average of $46.77. The company has a market capitalization of $2.31 billion, a PE ratio of -4,675.32 and a beta of 1.70. Vericel has a one year low of $30.18 and a one year high of $54.08.

Analyst Ratings Changes

Several research analysts have recently issued reports on VCEL shares. TD Cowen initiated coverage on Vericel in a research note on Thursday, June 20th. They issued a “buy” rating and a $55.00 price target for the company. Truist Financial increased their target price on shares of Vericel from $56.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. StockNews.com upgraded shares of Vericel from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Stephens raised their price objective on shares of Vericel from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday. Finally, HC Wainwright lifted their price target on Vericel from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.50.

Insider Activity

In other news, CEO Dominick Colangelo sold 17,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $44.12, for a total transaction of $772,100.00. Following the sale, the chief executive officer now owns 220,752 shares in the company, valued at $9,739,578.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Sean C. Flynn sold 6,772 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $45.02, for a total value of $304,875.44. Following the completion of the sale, the insider now directly owns 487 shares of the company’s stock, valued at $21,924.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dominick Colangelo sold 17,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $44.12, for a total transaction of $772,100.00. Following the transaction, the chief executive officer now directly owns 220,752 shares in the company, valued at $9,739,578.24. The disclosure for this sale can be found here. Insiders sold a total of 63,791 shares of company stock valued at $3,101,269 over the last three months. Insiders own 5.20% of the company’s stock.

About Vericel

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.