NEW YORK (TheStreet) -- Vericel Corp. (VCEL - Get Report) stock is up 78.49% to $3.78 on heavy trading volume on Thursday after the company reported positive results from its Phase 2 trial for patients with heart failure due to ischemic dilated cardiomyopathy.
The Cambridge-based bio-pharmaceutical company announced that its treatment, Ixmyelocel-T, met its primary endpoint during trials. Ischemic cardiomyopathy is caused by coronary heart disease or heart attack, according to the American Heart Association.
"The trial met its primary endpoint of demonstrating a reduction in the total number of deaths, cardiovascular hospitalizations or unplanned outpatient and emergency department visits to treat acute decompensated heart failure during the 12 months following treatment with ixmyelocel-T compared to placebo," the company said in a statement.
So far today, 4.29 million shares of Vericel have traded, well above the company's 30-day average of about 36,000 shares.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "sell" with a ratings score of D. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: VCEL