Analyst Caitlin Cronin of Canaccord Genuity maintained a Buy rating on Vericel, retaining the price target of $58.00.
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Caitlin Cronin’s rating is based on Vericel’s strong financial performance and strategic growth initiatives. The company reported impressive quarterly results, surpassing expectations in both revenue and profitability. Key products like MACI and Epicel have shown significant growth, with MACI benefiting from increased surgeon training and biopsy growth, and Epicel achieving one of its highest revenue quarters.
Cronin also highlights Vericel’s conservative guidance approach, which maintains a cautious outlook despite strong performance. The expansion of the MACI sales force and strategic plans for future growth, including international expansion and new product lines, further support the Buy rating. These factors, combined with Vericel’s robust cash flow and strategic positioning, suggest a promising outlook for the company’s continued growth and profitability.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $60.00 price target.