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In a report released yesterday, Ryan Zimmerman from BTIG maintained a Buy rating on Vericel Corp (NASDAQ: VCEL), with a price target of $17. The company’s shares closed yesterday at $13.25, close to its 52-week high of $13.59.
Zimmerman observed:
“VCEL continued to grow at a rapid pace with revenue topping expectations at $18.0M versus BTIG/Consensus of $16.3M//$16.8M. While comps were clouded by a revenue reserve of $2.8M in 1Q17, results were still strong with both MACI and Epicel growing 55% and 37% respectively (net of the reserve in MACI/Carticel in 1Q17). Shares were down this morning (as expenses were higher than expected) but since rebounded and we believe investors expected another beat and raise but we remind investors that 1Q is seasonally softer and MACI continues to grow above expectations, accelerating in both usage and rep productivity, combined with Epicel gaining incremental unit volume growth.”
According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 30.4% and a 62.8% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Integra Lifesciences, OrthoPediatrics Corp, and SeaSpine Holdings.
Vericel Corp has an analyst consensus of Strong Buy, with a price target consensus of $15.25.
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The company has a one-year high of $13.59 and a one-year low of $2.35. Currently, Vericel Corp has an average volume of 1.08M.
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Vericel Corp. engages in the research, product development, manufacture, and distribution of patient-specific, expanded cellular therapies to repair and regenerate damaged tissues and organs to normal structure and function. Its product portfolio include MACI and Epicel.
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