Vericel (NASDAQ:VCEL) Posts Earnings Results, Beats Expectations By $0.03 EPS

Vericel (NASDAQ:VCEL) issued its quarterly earnings results on Thursday. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03, reports. The business had revenue of $57.91 million during the quarter, compared to analyst estimates of $55.32 million. Vericel had a net margin of 0.37% and a return on equity of 0.35%. Vericel updated its FY 2024 guidance to EPS.

Vericel Price Performance

Shares of Vericel stock opened at $54.00 on Friday. The company has a market capitalization of $2.65 billion, a P/E ratio of 900.00 and a beta of 1.66. Vericel has a 1-year low of $32.28 and a 1-year high of $54.47. The business’s fifty day moving average price is $44.27 and its two-hundred day moving average price is $46.40.

Insider Activity at Vericel

In related news, Director Steven C. Gilman sold 5,833 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $40.35, for a total transaction of $235,361.55. Following the transaction, the director now owns 11,000 shares in the company, valued at $443,850. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Steven C. Gilman sold 5,833 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $40.35, for a total transaction of $235,361.55. Following the completion of the transaction, the director now owns 11,000 shares of the company’s stock, valued at $443,850. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dominick Colangelo sold 17,500 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $41.38, for a total transaction of $724,150.00. Following the completion of the sale, the chief executive officer now owns 220,937 shares in the company, valued at approximately $9,142,373.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,166 shares of company stock worth $1,200,764 over the last ninety days. 5.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Vericel

A number of hedge funds and other institutional investors have recently made changes to their positions in VCEL. Geneva Capital Management LLC grew its position in Vericel by 61.4% in the third quarter. Geneva Capital Management LLC now owns 1,104,386 shares of the biotechnology company’s stock worth $46,660,000 after buying an additional 420,078 shares during the last quarter. Congress Asset Management Co. lifted its holdings in shares of Vericel by 37.4% during the third quarter. Congress Asset Management Co. now owns 1,291,720 shares of the biotechnology company’s stock valued at $54,575,000 after purchasing an additional 351,550 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in Vericel during the first quarter valued at about $12,782,000. Federated Hermes Inc. increased its position in shares of Vericel by 34.9% in the second quarter. Federated Hermes Inc. now owns 840,787 shares of the biotechnology company’s stock worth $38,575,000 after acquiring an additional 217,437 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Vericel by 51.5% in the 2nd quarter. Victory Capital Management Inc. now owns 611,146 shares of the biotechnology company’s stock worth $28,039,000 after purchasing an additional 207,714 shares during the period.

Analyst Ratings Changes

A number of research firms have commented on VCEL. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Vericel in a report on Friday. Canaccord Genuity Group initiated coverage on shares of Vericel in a report on Friday, August 9th. They issued a “buy” rating and a $57.00 price target for the company. StockNews.com upgraded shares of Vericel from a “sell” rating to a “hold” rating in a research note on Friday. Canaccord Genuity Group assumed coverage on Vericel in a research note on Friday, August 9th. They issued a “buy” rating and a $57.00 target price for the company. Finally, TD Cowen increased their price target on Vericel from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $57.71.

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.