BTIG raised the firm’s price target on Vericel (VCEL) to $56 from $55 and keeps a Buy rating on the shares following Q3 results. While some investors may assume that MACI’s roughly 20% year-over-year growth in FY25 is a negative, as it’s not accelerating from the Arthro launch, the firm believes Vericel is setting a reasonable bar from which to begin. BTIG added that is sees meaningful upside coming from MACI Arthro in FY25 while NexoBrid builds progressively, both of which are showing healthy underlying metrics early in the launch. These dynamics, coupled with steady and growing profitability, position Vericel shares well into FY25, the analyst tells investors in a research note.
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Read More on VCEL:
- Vericel reports Q3 EPS (2c), consensus (5c)
- Vericel reaffirms its FY24 revenue guidance of $238M-$242M, consensus $240.05M
- VCEL Earnings this Week: How Will it Perform?
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