Wall Street analysts predict that Vericel Corp (NASDAQ:VCEL) will announce sales of $18.22 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Vericel’s earnings. The lowest sales estimate is $18.00 million and the highest is $18.44 million. Vericel reported sales of $14.26 million during the same quarter last year, which would suggest a positive year over year growth rate of 27.8%. The business is scheduled to issue its next earnings report before the market opens on Tuesday, November 6th.
According to Zacks, analysts expect that Vericel will report full year sales of $81.41 million for the current financial year, with estimates ranging from $80.04 million to $82.78 million. For the next fiscal year, analysts expect that the firm will report sales of $98.23 million, with estimates ranging from $96.50 million to $99.96 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Vericel.
Vericel (NASDAQ:VCEL) last announced its quarterly earnings data on Monday, August 6th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). The company had revenue of $19.01 million for the quarter, compared to the consensus estimate of $18.51 million. Vericel had a negative return on equity of 37.86% and a negative net margin of 23.35%.
A number of brokerages have recently issued reports on VCEL. LADENBURG THALM/SH SH raised Vericel from a “neutral” rating to a “buy” rating in a research note on Monday, July 16th. Needham & Company LLC dropped their price objective on Vericel from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, August 8th. BidaskClub downgraded Vericel from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Finally, BTIG Research reissued a “buy” rating and issued a $17.00 price objective on shares of Vericel in a research note on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $15.00.
Shares of NASDAQ:VCEL opened at $11.93 on Friday. The stock has a market capitalization of $467.43 million, a PE ratio of -23.86 and a beta of 3.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.48 and a current ratio of 7.72. Vericel has a 1 year low of $3.30 and a 1 year high of $15.29.
In related news, CFO Gerard J. Michel sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $12.65, for a total transaction of $189,750.00. Following the transaction, the chief financial officer now directly owns 165,960 shares of the company’s stock, valued at approximately $2,099,394. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Dominick Colangelo sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $15.02, for a total value of $1,126,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 114,000 shares of company stock worth $1,609,770. 3.30% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Vericel by 145.5% during the 2nd quarter. BlackRock Inc. now owns 2,586,435 shares of the biotechnology company’s stock worth $25,089,000 after buying an additional 1,532,840 shares during the period. RTW Investments LP raised its stake in Vericel by 7.3% during the 2nd quarter. RTW Investments LP now owns 2,217,916 shares of the biotechnology company’s stock worth $21,514,000 after buying an additional 150,000 shares during the period. Millennium Management LLC raised its stake in Vericel by 28.2% during the 2nd quarter. Millennium Management LLC now owns 794,367 shares of the biotechnology company’s stock worth $7,705,000 after buying an additional 174,631 shares during the period. Castleark Management LLC raised its stake in Vericel by 27.2% during the 2nd quarter. Castleark Management LLC now owns 720,585 shares of the biotechnology company’s stock worth $6,990,000 after buying an additional 154,068 shares during the period. Finally, First Washington CORP increased its holdings in Vericel by 18.7% during the 2nd quarter. First Washington CORP now owns 656,550 shares of the biotechnology company’s stock worth $6,369,000 after purchasing an additional 103,380 shares in the last quarter. 76.53% of the stock is currently owned by institutional investors and hedge funds.
Vericel Company Profile
Vericel Corporation, a commercial-stage biopharmaceutical company, researches, develops, manufactures, markets, and sells patient-specific expanded cellular therapies to repair and regenerate damaged tissues and organs. It markets autologous cell therapy products, including MACI, an autologous cellularized scaffold product for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; and Carticel, an autologous chondrocyte implant for the repair of symptomatic cartilage defects of the femoral condyle caused by acute or repetitive trauma in patients that have inadequate response to a prior arthroscopic or other surgical repair procedure.
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