Vericel (NASDAQ:VCEL) Downgraded by Oppenheimer

Oppenheimer downgraded shares of Vericel (NASDAQ:VCEL) from an outperform rating to a market perform rating in a research report sent to investors on Monday, AnalystRatings.net reports.

VCEL has been the topic of a number of other reports. SVB Leerink raised their price objective on Vericel from $20.00 to $30.00 and gave the company an outperform rating in a research note on Monday, October 12th. BTIG Research raised their price objective on Vericel from $30.00 to $37.00 and gave the company a buy rating in a research note on Tuesday, January 5th. They noted that the move was a valuation call. HC Wainwright raised their price objective on Vericel from $22.00 to $26.00 and gave the company a buy rating in a research note on Thursday, October 15th. BidaskClub raised Vericel from a hold rating to a buy rating in a research note on Tuesday, September 15th. Finally, Zacks Investment Research cut Vericel from a buy rating to a hold rating in a research note on Saturday, January 9th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $29.75.

VCEL opened at $36.92 on Monday. The stock has a market cap of $1.68 billion, a PE ratio of -3,692.00 and a beta of 2.73. Vericel has a 52 week low of $6.78 and a 52 week high of $37.98. The business’s fifty day simple moving average is $28.53 and its 200 day simple moving average is $20.85.

Vericel (NASDAQ:VCEL) last released its earnings results on Thursday, November 5th. The biotechnology company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.11. The firm had revenue of $31.02 million during the quarter, compared to the consensus estimate of $30.98 million. During the same period in the prior year, the company earned $0.07 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. As a group, equities research analysts predict that Vericel will post -0.12 EPS for the current year.

In other Vericel news, Director Robert L. Md Zerbe sold 17,500 shares of the firm’s stock in a transaction dated Monday, November 23rd. The shares were sold at an average price of $23.55, for a total value of $412,125.00. Following the completion of the sale, the director now directly owns 34,295 shares in the company, valued at $807,647.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.30% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Scout Investments Inc. lifted its holdings in shares of Vericel by 6.7% during the fourth quarter. Scout Investments Inc. now owns 393,921 shares of the biotechnology company’s stock valued at $12,164,000 after purchasing an additional 24,657 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its position in shares of Vericel by 66.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 68,626 shares of the biotechnology company’s stock valued at $1,271,000 after acquiring an additional 27,499 shares in the last quarter. Voloridge Investment Management LLC increased its position in shares of Vericel by 53.8% during the third quarter. Voloridge Investment Management LLC now owns 109,739 shares of the biotechnology company’s stock valued at $2,033,000 after acquiring an additional 38,365 shares in the last quarter. Jane Street Group LLC increased its position in shares of Vericel by 10.4% during the third quarter. Jane Street Group LLC now owns 22,785 shares of the biotechnology company’s stock valued at $422,000 after acquiring an additional 2,142 shares in the last quarter. Finally, Millrace Asset Group Inc. increased its position in shares of Vericel by 38.4% during the third quarter. Millrace Asset Group Inc. now owns 133,846 shares of the biotechnology company’s stock valued at $2,480,000 after acquiring an additional 37,166 shares in the last quarter. Institutional investors and hedge funds own 94.98% of the company’s stock.

Vericel Company Profile

Vericel Corporation, a commercial-stage biopharmaceutical company, researches, develops, manufactures, and distributes cellular therapies for sports medicine and severe burn care markets in the United States. It markets autologous cell therapy products comprising MACI, an autologous cellularized scaffold product for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; and Epicel, a permanent skin replacement humanitarian use device for the treatment of patients with deep-dermal or full-thickness burns.

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