Vericel Corporation’s (VCEL) “Buy” Rating Reiterated at Piper Jaffray Companies
Vericel Corporation (NASDAQ:VCEL)‘s stock had its “buy” rating reiterated by analysts at Piper Jaffray Companies in a note issued to investors on Thursday. They presently have a $7.00 price target on the biotechnology company’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 108.96% from the stock’s current price.
Separately, BTIG Research set a $6.00 price target on Vericel Corporation and gave the stock a “buy” rating in a research report on Wednesday.
Vericel Corporation (VCEL) opened at 3.40 on Thursday. The firm’s market cap is $111.40 million. The firm’s 50-day moving average price is $3.25 and its 200-day moving average price is $2.87. Vericel Corporation has a 1-year low of $2.00 and a 1-year high of $4.55.
Vericel Corporation (NASDAQ:VCEL) last released its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.17. On average, equities research analysts anticipate that Vericel Corporation will post ($0.63) earnings per share for the current year.
Several large investors have recently made changes to their positions in the stock. 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 in 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 in 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 in the last quarter. Finally, Stonepine Capital Management LLC increased its stake in shares of 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 in the last quarter. 31.99% of the stock is owned by institutional investors and hedge funds.
Vericel Corporation Company Profile
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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