Mesoblast (NASDAQ:MESO) Upgraded to “Overweight” by Piper Sandler

Piper Sandler upgraded shares of Mesoblast (NASDAQ:MESO) from a neutral rating to an overweight rating in a report issued on Tuesday, MarketBeat Ratings reports. Piper Sandler currently has $11.00 target price on the stock, up from their previous target price of $4.00.

MESO has been the topic of a number of other research reports. Cantor Fitzgerald reissued an overweight rating on shares of Mesoblast in a research note on Thursday, June 20th. StockNews.com cut shares of Mesoblast from a hold rating to a sell rating in a research note on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Mesoblast has an average rating of Hold and a consensus target price of $16.00.

Mesoblast Stock Performance

Mesoblast stock opened at $7.40 on Tuesday. The company’s fifty day moving average price is $7.40 and its 200 day moving average price is $4.97. Mesoblast has a 1 year low of $1.61 and a 1 year high of $8.66. The stock has a market capitalization of $844.93 million, a P/E ratio of -6.65 and a beta of 3.48.

Institutional Investors Weigh In On Mesoblast

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Chase Investment Counsel Corp acquired a new stake in Mesoblast during the 1st quarter worth $298,000. Chapin Davis Inc. raised its holdings in shares of 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 acquiring an additional 5,000 shares during the period. Perkins Coie Trust Co purchased a new position in shares of Mesoblast during the 2nd quarter worth $68,000. Finally, GAMMA Investing LLC raised its holdings in shares of 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 acquiring an additional 1,663 shares during the period. Institutional investors and hedge funds own 1.43% of the company’s stock.

About Mesoblast

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.