Mesoblast Limited (NASDAQ:MESO) Receives $13.67 Consensus Target Price from Brokerages

Shares of Mesoblast Limited (NASDAQ:MESO) have earned a consensus rating of “Hold” from the six research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $16.00.

Several equities research analysts recently commented on MESO shares. Piper Sandler upgraded shares of Mesoblast from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $4.00 to $11.00 in a research report on Tuesday. StockNews.com downgraded shares of Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research report on Thursday, June 20th.

Mesoblast Trading Down 6.7 %

MESO opened at $7.42 on Friday. The company’s 50 day moving average is $7.40 and its 200-day moving average is $4.95. Mesoblast has a 1-year low of $1.61 and a 1-year high of $8.66. The company has a market cap of $847.22 million, a P/E ratio of -6.62 and a beta of 3.48.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Mesoblast by 50.1% during the 2nd quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after purchasing an additional 1,663 shares during the last quarter. Perkins Coie Trust Co bought a new position in Mesoblast during the 2nd quarter worth approximately $68,000. Chapin Davis Inc. raised its holdings in Mesoblast by 50.0% during the 2nd quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock worth $102,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Chase Investment Counsel Corp bought a new stake in shares of Mesoblast in the 1st quarter valued at $298,000. Institutional investors own 1.43% of the company’s stock.

Mesoblast Company Profile

Mesoblast Limited engages in the development of regenerative medicine products in Australia, the United States, Singapore, and Switzerland. The company offers products in the areas of cardiovascular, spine orthopedic disorder, oncology, hematology, and immune-mediated and inflammatory diseases. Its proprietary regenerative medicine technology platform is based on specialized cells known as mesenchymal lineage cells.