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 $10.20.
Zimmerman said:
“$17 PT Heading into earnings, we viewed MACI’s ~23% Y/Y adjusted comp as achievable as the combo of increasing biopsy growth in YE17, rep additions, and low market penetration suggested another beatable Q. Viewed independent of the guidance raise, MACI’s 2Q18 result was in line with our Street-high expectations ($14.1M vs. BTIG’s $14.0M est.) but above Consensus ($13.7M) and while not bad, it may not excite investors looking for continued acceleration. That said, we do expect shares to be up tomorrow as guidance was raised ~9% (at the midpoint) to $80M – $83M (from $73M – $78M) as mgmt. sees strengthening momentum in 2H18 within MACI from biopsy strength, faster conversion times, new rep contributions, and continued marketing.”
According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 25.6% and a 70.9% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Integra Lifesciences, OrthoPediatrics Corp, and SeaSpine Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vericel Corp with a $15 average price target.
See today’s analyst top recommended stocks >>
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 6 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
