Vericel (NASDAQ:VCEL) Achieves New 12-Month High Following Positive Earnings Report

Vericel Corporation (NASDAQ:VCEL) set a new 52-week high on Friday, buoyed by the announcement of quarterly earnings that exceeded expectations. The stock hit a peak price of $54.47 during the trading session before settling at $53.94, with a trading volume of 225,594 shares. This marks a notable increase from its previous close of $50.03.

The biotechnology firm disclosed earnings per share (EPS) of ($0.02) for the most recent quarter, surpassing the consensus estimate of ($0.05) by $0.03. Additionally, Vericel achieved a net margin of 0.37% and a return on equity of 0.35%. The company's revenue for the quarter reached $57.91 million, outpacing analyst forecasts of $55.32 million.

Market Reactions from Analysts

Numerous analysts have recently shared their feedback regarding Vericel's performance and outlook. StockNews.com downgraded the rating of Vericel from "hold" to "sell" in a report released on October 8. Canaccord Genuity Group initiated coverage on Vericel on August 9, giving it a "buy" rating with a price target of $57.00. Truist Financial raised its price target for Vericel from $56.00 to $57.00 and maintained a "buy" rating on July 16. In contrast, BTIG Research cut their price target from $56.00 to $55.00, also assigning a "buy" rating. Currently, one analyst has rated the stock as a "sell," while seven analysts favor a "buy" rating. According to MarketBeat.com, Vericel holds an average rating of "Moderate Buy" with a consensus price target set at $57.71.

Insider Transactions

In related news, company Director Steven C. Gilman sold 5,833 shares of Vericel on October 2, obtaining an average price of $40.35, culminating in a total value of $235,361.55. After this sale, Gilman retains ownership of 11,000 shares, which are currently valued at $443,850. CEO Dominick Colangelo also sold 17,500 shares on October 16 at an average price of $41.38, amounting to $724,150. Following this transaction, he holds 220,937 shares valued at over $9 million. Over the past three months, insiders have sold a total of 29,166 shares valued at $1,200,764, representing 7.20% of the company's stock held by insiders.

Hedge Fund Activities

Several hedge funds have recently engaged in buying and selling shares of VCEL. Norden Group LLC established a new position in Vericel during the first quarter, investing around $244,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Vericel by 7.1% in the same quarter, now owning 27,960 shares valued at $1.45 million. BNP Paribas Financial Markets significantly boosted its holdings in Vericel by 99.7%, acquiring 111,760 shares valued at approximately $5.81 million. Other hedge funds, like Texas Permanent School Fund Corp and Lisanti Capital Growth LLC, have also increased their shareholdings in the company, reflecting strong institutional interest.

Vericel Stock Performance

The stock has seen a significant increase in value, rising by 7.6%. Vericel currently has a 50-day moving average of $44.22 and a 200-day moving average of $46.34. With a market capitalization of $2.64 billion, Vericel's PE ratio is reported at -5,369,000.00, and the stock has a beta value of 1.66.

Company Overview

Vericel Corporation is a biopharmaceutical company focused on the research, development, manufacture, and distribution of cellular therapies for sports medicine and severe burn care in North America. The company offers various products, including MACI, an autologous cell therapy for cartilage defects in knees, Epicel, a skin replacement therapy for burn patients, and NexoBrid, a biological product designed for eschar removal in burn patients.

stocks, earnings, biotech