Mesoblast (NASDAQ:MESO) Rating Lowered to Hold at Zacks Investment Research

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Zacks Investment Research lowered shares of Mesoblast (NASDAQ:MESO) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “Mesoblast Limited is a global leader in developing innovative cell-based medicines. The Company has leveraged its proprietary technology platform, which is based on specialized cells known as mesenchymal lineage adult stem cells, to establish a broad portfolio of late-stage product candidates. Mesoblast’s allogeneic, ‘off-the-shelf’ cell product candidates target advanced stages of diseases with high, unmet medical needs including cardiovascular conditions, orthopedic disorders, immunologic and inflammatory disorders and oncologic/hematologic conditions. “

MESO has been the subject of a number of other reports. HC Wainwright set a $7.00 target price on Mesoblast and gave the stock a buy rating in a research note on Friday, August 30th. Oppenheimer set a $10.00 target price on Mesoblast and gave the stock a buy rating in a research note on Tuesday, September 10th. ValuEngine raised Mesoblast from a buy rating to a strong-buy rating in a research note on Monday, September 16th. Chardan Capital set a $6.00 target price on Mesoblast and gave the stock a hold rating in a research note on Friday, August 30th. Finally, Maxim Group reaffirmed a buy rating and set a $16.00 price target on shares of Mesoblast in a research note on Thursday, September 12th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $11.67.

NASDAQ MESO opened at $6.82 on Wednesday. The business has a 50 day simple moving average of $5.36 and a 200 day simple moving average of $5.20. Mesoblast has a 52-week low of $3.35 and a 52-week high of $8.78. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.41 and a quick ratio of 1.41.

Mesoblast (NASDAQ:MESO) last posted its earnings results on Thursday, August 29th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.02. Mesoblast had a negative return on equity of 17.66% and a negative net margin of 536.97%. The business had revenue of $1.97 million during the quarter, compared to analysts’ expectations of $1.31 million. Equities analysts expect that Mesoblast will post -0.72 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Mesoblast stock. Morgan Stanley raised its holdings in shares of Mesoblast limited (NASDAQ:MESO) by 284.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 147,702 shares of the company’s stock after acquiring an additional 109,295 shares during the quarter. Morgan Stanley owned approximately 0.16% of Mesoblast worth $784,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 2.76% of the company’s stock.

Mesoblast Company Profile

Mesoblast Limited, a biopharmaceutical company, develops and commercializes allogeneic cellular medicines. Its proprietary regenerative medicine technology platform is based on specialized cells known as mesenchymal lineage adult stem cells. The company's products under the Phase III clinical trials include MSC-100-IV for steroid refractory acute graft versus host disease; MPC-150-IM for advanced heart failure; and MPC-06-ID for chronic low back pain due to degenerative disc disease.

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