Oppenheimer Believes Vericel (VCEL) Still Has Room to Grow


Oppenheimer analyst Kevin DeGeeter assigned a Buy rating to Vericel (VCEL) today and set a price target of $32.00. The company’s shares closed last Tuesday at $20.93, close to its 52-week high of $22.26.

According to TipRanks.com, DeGeeter is a 5-star analyst with an average return of 30.5% and a 55.5% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals, Ionis Pharmaceuticals, and Cellectar Biosciences.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vericel with a $26.20 average price target, representing a 25.2% upside. In a report issued on October 12, Leerink Partners also maintained a Buy rating on the stock with a $30.00 price target.

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Based on Vericel’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $20.01 million and GAAP net loss of $8.27 million. In comparison, last year the company earned revenue of $26.15 million and had a GAAP net loss of $19.79 million.

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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.

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