Vericel (VCEL) Given “Overweight” Rating at Piper Jaffray Companies
Piper Jaffray Companies restated their overweight rating on shares of Vericel (NASDAQ:VCEL) in a research report report published on Tuesday morning. They currently have a $9.00 target price on the biotechnology company’s stock.
A number of other research firms have also recently commented on VCEL. BTIG Research reaffirmed a buy rating and set a $6.00 price target on shares of Vericel in a research note on Thursday, September 7th. ValuEngine cut shares of Vericel from a hold rating to a sell rating in a research note on Friday, December 1st.
Vericel (NASDAQ VCEL) traded up $0.05 during trading on Tuesday, hitting $5.95. 1,057,603 shares of the stock were exchanged, compared to its average volume of 1,799,050. Vericel has a 12-month low of $2.25 and a 12-month 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 cap of $195.31, a P/E ratio of -6.76 and a beta of 3.02.
Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in shares of Vericel by 13.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,202 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 4,523 shares during the period. Citadel Advisors LLC purchased a new position in shares of Vericel during the 3rd quarter worth about $235,000. JPMorgan Chase & Co. purchased a new position in shares of Vericel during the 3rd quarter worth about $328,000. EAM Investors LLC purchased a new position in shares of Vericel during the 3rd quarter worth about $943,000. Finally, Perkins Capital Management Inc. boosted its stake in shares of Vericel by 118.4% during the 3rd quarter. Perkins Capital Management Inc. now owns 562,600 shares of the biotechnology company’s stock worth $3,376,000 after purchasing an additional 305,000 shares during the period. 33.12% of the stock is owned by hedge funds and other institutional investors.
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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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