Vericel Corp (NASDAQ:VCEL) – Equities researchers at Piper Jaffray Companies lifted their FY2018 earnings per share (EPS) estimates for shares of Vericel in a research note issued on Tuesday, November 6th. Piper Jaffray Companies analyst E. Tenthoff now forecasts that the biotechnology company will post earnings per share of ($0.24) for the year, up from their previous estimate of ($0.41). Piper Jaffray Companies also issued estimates for Vericel’s Q4 2018 earnings at $0.05 EPS, Q1 2019 earnings at ($0.05) EPS, Q3 2019 earnings at $0.00 EPS, FY2019 earnings at ($0.03) EPS and FY2020 earnings at $0.07 EPS.
Several other equities analysts also recently weighed in on the company. Needham & Company LLC reduced their price target on Vericel from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, August 8th. LADENBURG THALM/SH SH raised Vericel from a “neutral” rating to a “buy” rating in a research report on Monday, July 16th. BTIG Research reaffirmed a “buy” rating and set a $17.00 price objective on shares of Vericel in a research report on Tuesday, August 7th. Finally, BidaskClub cut Vericel from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Vericel presently has a consensus rating of “Buy” and an average price target of $16.75.
Vericel (NASDAQ:VCEL) last issued its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.09. Vericel had a negative return on equity of 22.23% and a negative net margin of 15.80%. The firm had revenue of $22.50 million during the quarter, compared to the consensus estimate of $18.14 million. Vericel’s revenue was up 57.3% compared to the same quarter last year.
In related news, insider Dominick Colangelo sold 75,000 shares of the stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $15.02, for a total transaction of $1,126,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven C. Gilman sold 9,000 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $12.03, for a total value of $108,270.00. Following the sale, the director now directly owns 9,000 shares in the company, valued at $108,270. The disclosure for this sale can be found here. Insiders have sold 164,000 shares of company stock worth $2,379,270 over the last ninety days. 3.30% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in VCEL. BlackRock Inc. boosted its position in shares of Vericel by 145.5% during the second quarter. BlackRock Inc. now owns 2,586,435 shares of the biotechnology company’s stock valued at $25,089,000 after buying an additional 1,532,840 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Vericel in the second quarter worth about $5,196,000. Millennium Management LLC boosted its position in Vericel by 528.6% in the first quarter. Millennium Management LLC now owns 619,736 shares of the biotechnology company’s stock worth $6,166,000 after purchasing an additional 521,141 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in Vericel in the second quarter worth about $3,917,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in Vericel in the second quarter worth about $3,880,000. 76.57% of the stock is currently owned by institutional investors.
Vericel Corporation, a commercial-stage biopharmaceutical company, researches, develops, manufactures, markets, and sells patient-specific expanded cellular therapies to repair and regenerate damaged tissues and organs. It markets autologous cell therapy products, including MACI, an autologous cellularized scaffold product for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; and Carticel, an autologous chondrocyte implant for the repair of symptomatic cartilage defects of the femoral condyle caused by acute or repetitive trauma in patients that have inadequate response to a prior arthroscopic or other surgical repair procedure.
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