Vericel (NASDAQ:VCEL)‘s stock had its “overweight” rating reissued by Piper Jaffray Companies in a research report issued on Tuesday. They currently have a $9.00 target price on the biotechnology company’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 51.26% from the company’s current price.
A number of other research firms have also recently issued reports on VCEL. BTIG Research set a $6.00 target price on Vericel and gave the company a “buy” rating in a research report on Monday, October 2nd. ValuEngine cut Vericel from a “hold” rating to a “sell” rating in a research report on Friday, December 1st.
Vericel (NASDAQ VCEL) traded up $0.05 during trading on Tuesday, reaching $5.95. The company’s stock had a trading volume of 1,057,800 shares, compared to its average volume of 1,799,150. Vericel has a 1 year low of $2.25 and a 1 year high of $6.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.22 and a current ratio of 2.50. The company has a market capitalization of $189.74, a PE ratio of -6.76 and a beta of 3.02.
Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of Vericel by 13.8% during the second quarter. Bank of New York Mellon Corp now owns 37,202 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 4,523 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Vericel during the third quarter valued at about $235,000. JPMorgan Chase & Co. acquired a new stake in shares of Vericel during the third quarter valued at about $328,000. EAM Investors LLC acquired a new stake in shares of Vericel during the third quarter valued at about $943,000. Finally, Perkins Capital Management Inc. boosted its stake in shares of Vericel by 118.4% during the third quarter. Perkins Capital Management Inc. now owns 562,600 shares of the biotechnology company’s stock valued at $3,376,000 after purchasing an additional 305,000 shares in the last quarter. 33.12% of the stock is currently owned by hedge funds and other institutional investors.
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Vericel Company Profile
Vericel Corporation, formerly Aastrom Biosciences, Inc, is a commercial-stage biopharmaceutical company dedicated to the identification, development and commercialization of therapies that enable the body to repair and regenerate damaged tissues and organs to restore normal structure and function. The Company operates through the research, product development, manufacture and distribution of patient-specific, expanded cellular therapies for use in the treatment of specific diseases segment.
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