Vericel Corp Gets a Buy Rating from BTIG

In a report released today, Ryan Zimmerman from BTIG maintained a Buy rating on Vericel Corp (NASDAQ: VCEL), with a price target of $17. The company’s shares closed yesterday at $9.85.

Zimmerman commented:

“In our coverage of the cartilage repair sector, focus has primarily been on the knees as both MACI by Histogenics (HSGX, Buy, $5 PT) are either currently or expected to treat cartilage lesions of the knee. Articular cartilage exists in a variety of joints beyond the knee including the ankles, shoulders, hips, elbows, spine, and hands & wrists offering potential growth opportunities for companies that are able to replicate cartilage in other parts of the body. Foot & Ankle Society conference Boston we explore the opportunity for cartilage repair in the ankle (i.e. talus bone) via autologous cell therapy as we note clinician researchers have previously dabbled with Vericel’s MACI in various case studies.”

According to TipRanks.com, Zimmerman is a 4-star analyst with an average return of 25.4% and a 59.2% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Integra Lifesciences, OrthoPediatrics Corp, and SeaSpine Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Vericel Corp with a $17 average price target.

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Based on Vericel Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $7.66 million. In comparison, last year the company had a GAAP net loss of $2.39 million.

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Vericel Corp. engages in the research, product development, manufacture, and distribution of patient-specific, expanded cellular therapies to repair and regenerate damaged tissues and organs to normal structure and function. Its product portfolio include MACI and Epicel.