BTIG analyst Ryan Zimmerman maintained a Buy rating on Vericel Corp (NASDAQ: VCEL) on September 5 and set a price target of $17. The company’s shares closed on Friday at $12.90, close to its 52-week high of $14.75.
Zimmerman observed:
“Ph. 3 Topline Results This morning, Histogenics (HSGX, Neutral) released Ph. 3 data on NeoCart where the treatment did not provide a statistically significant improvement over microfracture treatment. We believe this provides immediate competitive relief for investors concerned about a new product challenging MACI and a longer term competitive benefit through a more difficult enrollment landscape for future clinical trials in the cartilage space. Maintain Buy and PT of $17.”
According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 28.6% and a 73.3% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and OrthoPediatrics Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vericel Corp with a $15 average price target, which is a 16.3% upside from current levels. In a report issued on September 5, Piper Jaffray also maintained a Buy rating on the stock with a $16 price target.
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Based on Vericel Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.65 million. In comparison, last year the company had a GAAP net loss of $2.39 million.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VCEL in relation to earlier this year.
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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.
