Vericel (VCEL) MACI Approval Puts Profitability Within Reach - Needham & Company

Needham & Company analyst Chad Messer reiterated a Buy rating and $9 price target on Vericel Corporation (NASDAQ: VCEL) the FDA approved Vericel's next generation cell based cartilage repair product MACI ahead of the January 3rd PDUFA. He said the approval puts profitability within reach.

Messer commented, "MACI is a significant advancement over Vericel's currently marketed product Carticel and will carry a broader label as a front line treatment for knee cartilage defects. We anticipate surgeons using Carticel to rapidly convert to MACI. We look for a gradual expansion of Vericel's cartilage repair business as existing surgeons use the product more often and new surgeons add it to their repertoire. We reiterate our Buy rating based on anticipated increased revenue for VCEL in 2017 which could propel Vericel into profitability as early as 4Q:17. We reiterate our Buy rating and view the next year as potentially transformative for VCEL's business"

For an analyst ratings summary and ratings history on Vericel Corporation click here. For more ratings news on Vericel Corporation click here.

Shares of Vericel Corporation closed at $2.60 yesterday.

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