BTIG analyst Ryan Zimmerman maintained a Buy rating on Vericel (VCEL) today and set a price target of $63.00. The company’s shares closed last Wednesday at $56.52, close to its 52-week high of $64.90.
According to TipRanks.com, Zimmerman is a top 100 analyst with an average return of 36.9% and a 63.9% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Staar Surgical Company, and Organogenesis Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Vericel with a $60.80 average price target.
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Based on Vericel’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $45.23 million and net profit of $12.22 million. In comparison, last year the company earned revenue of $39.39 million and had a net profit of $9.5 million.
Based on the recent corporate insider activity of 25 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 March 2021, Alan Rubino, a Director at VCEL bought 5,000 shares for a total of $226,000.
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Vericel Corp. engages in the research, product development, manufacture, and distribution of patient-specific, expanded cellular therapies for use in the treatment of patients with diseases. Its product portfolio includes MACI and Epicel. The MACI portfolio is FDA-approved product that applies the process of tissue engineering to grow cells on scaffolds using healthy cartilage tissue from the patient’s own knee. The Epicel portfolio provide skin replacement for patients who have deep dermal or full thickness burns. The company was founded on March 24, 1989 and is headquartered in Cambridge, MA.
