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

Vericel (NASDAQ:VCEL) issued its quarterly earnings results on Wednesday. The biotechnology company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03, Briefing.com reports. Vericel had a net margin of 0.22% and a return on equity of 0.21%. The company had revenue of $51.28 million for the quarter, compared to the consensus estimate of $49.07 million. During the same period in the previous year, the firm earned ($0.16) EPS. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. Vericel updated its FY 2024 guidance to EPS.

Vericel Price Performance

Shares of NASDAQ:VCEL opened at $48.10 on Friday. Vericel has a one year low of $30.18 and a one year high of $53.05. The firm has a fifty day moving average price of $47.37 and a two-hundred day moving average price of $41.76.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VCEL. HC Wainwright upped their price objective on Vericel from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com downgraded Vericel from a “hold” rating to a “sell” rating in a research note on Friday. Truist Financial restated a “buy” rating and issued a $54.00 price objective on shares of Vericel in a research note on Tuesday, March 26th. Finally, TheStreet raised shares of Vericel from a “d+” rating to a “c-” rating in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $46.80.

Insider Buying and Selling

In other Vericel news, Director Robert L. Md Zerbe sold 3,278 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $51.57, for a total value of $169,046.46. Following the transaction, the director now directly owns 23,395 shares in the company, valued at approximately $1,206,480.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robert L. Md Zerbe sold 3,278 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $51.57, for a total value of $169,046.46. Following the transaction, the director now owns 23,395 shares of the company’s stock, valued at approximately $1,206,480.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Sean C. Flynn sold 8,115 shares of Vericel stock in a transaction on Friday, March 8th. The stock was sold at an average price of $45.33, for a total transaction of $367,852.95. Following the sale, the senior vice president now directly owns 167 shares of the company’s stock, valued at $7,570.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,267 shares of company stock worth $2,450,996. Corporate insiders own 5.20% of the company’s stock.

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.