Zacks Investment Research Upgrades Mesoblast (NASDAQ:MESO) to Buy

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Zacks Investment Research upgraded shares of Mesoblast (NASDAQ:MESO) from a hold rating to a buy rating in a report issued on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $8.00 price target on the stock.

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. “

A number of other equities research analysts also recently issued reports on MESO. HC Wainwright set a $7.00 price target on shares of Mesoblast and gave the company a buy rating in a research report on Friday, August 30th. Oppenheimer set a $10.00 price target on shares of Mesoblast and gave the company a buy rating in a research report on Tuesday, September 10th. Maxim Group reiterated a buy rating and set a $16.00 price target on shares of Mesoblast in a research report on Thursday, September 12th. ValuEngine upgraded shares of Mesoblast from a buy rating to a strong-buy rating in a research report on Monday, September 16th. Finally, Cantor Fitzgerald set a $23.00 price target on shares of Mesoblast and gave the company a buy rating in a research report on Tuesday, September 10th. 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 company has a consensus rating of Buy and a consensus price target of $11.67.

MESO stock opened at $6.82 on Tuesday. The firm has a 50 day moving average of $5.36 and a 200-day moving average of $5.20. Mesoblast has a 12-month low of $3.35 and a 12-month high of $8.78. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.14. The company has a market cap of $680.16 million, a price-to-earnings ratio of -7.49 and a beta of 1.77.

Mesoblast (NASDAQ:MESO) last posted its quarterly earnings results on Thursday, August 29th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.02. Mesoblast had a negative net margin of 536.97% and a negative return on equity of 17.66%. The company had revenue of $1.97 million during the quarter, compared to the consensus estimate of $1.31 million. Sell-side analysts forecast 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 lifted its holdings in shares of Mesoblast limited (NASDAQ:MESO) by 284.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,702 shares of the company’s stock after purchasing an additional 109,295 shares during the period. Morgan Stanley owned about 0.16% of Mesoblast worth $784,000 as of its most recent SEC filing. Institutional investors and hedge funds 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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