Josh Jennings, an analyst from TD Cowen, reiterated the Buy rating on Vericel. The associated price target remains the same with $55.00.
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Josh Jennings has given his Buy rating due to a combination of factors including Vericel’s strong third-quarter performance and promising growth prospects. The company exceeded expectations in terms of revenue, margins, and EBITDA, with a notable 25% increase in MACI sales. This growth is supported by an expanding base of surgeons and a surge in biopsies, particularly following the launch of MACI Arthro, which has alleviated investor concerns about achieving revenue targets.
Additionally, the momentum from the third quarter is expected to continue, with projections indicating that a 20% growth in MACI revenue is feasible by 2025. The early success of MACI Arthro, evidenced by the training of over 800 surgeons and higher growth rates in biopsies and implants among trained surgeons, suggests a strong future performance. The less invasive nature of MACI Arthro and its potential for better patient outcomes are driving increased demand, further supporting the Buy rating.
According to TipRanks, Jennings is a 2-star analyst with an average return of 0.6% and a 46.39% success rate. Jennings covers the Healthcare sector, focusing on stocks such as Medtronic, TransMedics Group, and Boston Scientific.
In another report released on October 30, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $38.00 price target.