BTIG analyst Ryan Zimmerman maintained a Buy rating on Vericel Corp (VCEL) on May 7 and set a price target of $22. The company’s shares closed yesterday at $17.93.
Zimmerman noted:
“as VCEL We maintain our Buy rating and $22 PT on VCEL shares following 1Q19 results which came in slightly below expectations. MACI, which beat BTIG estimates, missed the market relative to Consensus. As previewed (here), we felt Street numbers were too high and set up for a challenging bogey coming into the print. That said, Epicel fell short by $1M in the quarter. It’s tough to determine if Epicel’s miss was indicative of softer seasonality (if there is such a thing in burn) or increasing competition in the burn market (we believe it’s a combo of both) but with VCEL licensing MediWound’s (MDWD, Not Rated) NexoBrid, its evident that VCEL is committed to expanding in burn to mitigate increasing competition in cellular therapy (in burn).”
According to TipRanks.com, Zimmerman is a top 100 analyst with an average return of 40.1% and a 70.4% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and OrthoPediatrics Corp.
Vericel Corp has an analyst consensus of Moderate Buy, with a price target consensus of $27, a 50.6% upside from current levels. In a report issued on May 1, Oppenheimer also assigned a Buy rating to the stock with a $23 price target.
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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 674K.
Based on the recent corporate insider activity of 21 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.
