BTIG Reiterates Buy Rating on Vericel Corporation (VCEL)

BTIG analyst Ryan Zimmerman reiterated a Buy rating and $55.00 price target on Vericel Corporation (NASDAQ: VCEL).

The analyst comments "This morning, VCEL announced the FDA approval of the BLA supplement for arthroscopic MACI. The MACI Arthro version provides for the same experience that has made MACI a first-line therapy in cartilage defects but with a less invasive technique compared to the current approach which requires an open arthrotomy. The MACI Arthro approval will expand VCEL's TAM by ~2k surgeons and give greater access to patients who have a cartilage defect on their femoral condyles, which VCEL estimates to be ~20k patients annually. The clearance comes in-line with prior mgmt. commentary which estimated to begin the launch of MACI Arthro in 3Q24. At the same time, we expect MACI Arthro to be a greater growth driver in FY25 as the launch gets into full swing. We previously spoke with surgeons who had experience with MACI Arthro and were performing the procedure (here). Our feedback was positive and we expect the procedure to appeal to more patients who may undergo less trauma to the knee as a result of a smaller incision."

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 $49.29 yesterday.

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