Vericel Corporation (VCEL) Announces Earnings Results, Beats Expectations By $0.16 EPS
Vericel Corporation (NASDAQ:VCEL) released its earnings results on Wednesday. The biotechnology company reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.16, Morningstar.com reports.
Vericel Corporation (VCEL) traded down 1.47% on Thursday, hitting $3.35. The stock had a trading volume of 69,613 shares. Vericel Corporation has a 12-month low of $2.00 and a 12-month high of $4.55. The company has a 50 day moving average of $3.25 and a 200 day moving average of $2.87. The company’s market capitalization is $109.77 million.
Several equities research analysts have recently commented on VCEL shares. BTIG Research started coverage on Vericel Corporation in a research note on Tuesday, June 20th. They issued a “buy” rating and a $6.00 target price for the company. Piper Jaffray Companies reissued a “buy” rating and issued a $7.00 target price on shares of Vericel Corporation in a research note on Thursday.
Hedge funds have recently bought and sold shares of the stock. Stonepine Capital Management LLC increased its stake in Vericel Corporation by 73.3% in the first quarter. Stonepine Capital Management LLC now owns 3,265,323 shares of the biotechnology company’s stock worth $9,143,000 after buying an additional 1,381,523 shares during the last quarter. Perkins Capital Management Inc. increased its stake in shares of Vericel Corporation by 12.6% in the second quarter. Perkins Capital Management Inc. now owns 257,600 shares of the biotechnology company’s stock worth $850,000 after buying an additional 28,850 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Vericel Corporation by 13.8% in the second quarter. Bank of New York Mellon Corp now owns 37,202 shares of the biotechnology company’s stock worth $123,000 after buying an additional 4,523 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Vericel Corporation by 0.5% in the fourth quarter. Renaissance Technologies LLC now owns 436,900 shares of the biotechnology company’s stock worth $1,311,000 after buying an additional 2,200 shares during the last quarter. Institutional investors and hedge funds own 31.99% of the company’s stock.
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About Vericel Corporation
Vericel Corporation, formerly Aastrom Biosciences, Inc, is a commercial-stage biopharmaceutical company dedicated to the identification, development and commercialization of therapies that enable the body to repair and regenerate damaged tissues and organs to restore normal structure and function. The Company operates through the research, product development, manufacture and distribution of patient-specific, expanded cellular therapies for use in the treatment of specific diseases segment.
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