Truist analyst Richard Newitter raised the firm’s price target on Vericel (VCEL) to $50 from $41 and keeps a Buy rating on the shares. The firm notes Q3 saw a $3M revenue beat as both MACI & Burn Care outperformed, and importantly MACI delivered year-over-year acceleration on the heels of ramping MACI arthro adoption. The Q3 MACI beat should help alleviate anxiety around the steep implied Q4 revenue ramp to achieve gdce, which was reiterated, Truist adds.
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