Oppenheimer Maintains Their Buy Rating on Vericel Corp (VCEL)

In a report released yesterday, Kevin DeGeeter from Oppenheimer maintained a Buy rating on Vericel Corp (VCEL), with a price target of $23. The company’s shares closed yesterday at $16.62.

DeGeeter wrote:

“VCEL will report 1Q19 results May 7th before market open. We believe: 1) some analysts are not fully incorporating seasonality for MACI and 2) most investors are more focused on potential upside to 2019 full-year guidance than on 1Q19 results. As such, we have a measured view on VCEL shares going into the quarter. Our 1Q19 estimates are exactly in line with consensus at revenue of $22.5M and EPS of ($0.07). We continue to see potential upside to 2019 guidance of $108M-$112M and our estimate of $112.6M (consensus $112.5M) based on 2H19 growth in MACI. We view completion of management’s review of MACI sales force size, potentially this summer, as a potential catalyst for communicating an updated outlook for 2H19 and 2019 growth.”

According to TipRanks.com, DeGeeter is a 4-star analyst with an average return of 13.0% and a 47.9% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Catalyst Biosciences Inc, Molecular Templates Inc, and Neon Therapeutics Inc.

Currently, the analyst consensus on Vericel Corp is a Moderate Buy with an average price target of $22.50.

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The company has a one-year high of $21.01 and a one-year low of $8.95. Currently, Vericel Corp has an average volume of 638.6K.

Based on the recent corporate insider activity of 20 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. Most recently, in February 2019, Dominick Colangelo, the President & CEO of VCEL bought 36,192 shares for a total of $99,999.

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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 includes MACI and Epicel.

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