Mesoblast Limited (NASDAQ:MESO) Receives $7.13 Average Price Target from Brokerages

Mesoblast Limited (NASDAQ:MESO) has received a consensus rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $7.13.

Several equities analysts have weighed in on the stock. Piper Sandler downgraded shares of Mesoblast from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $7.00 to $2.00 in a report on Friday, August 4th. Cantor Fitzgerald restated an “overweight” rating and set a $17.00 target price on shares of Mesoblast in a report on Thursday, September 21st. Chardan Capital dropped their target price on shares of Mesoblast from $2.00 to $1.50 and set a “sell” rating for the company in a report on Friday, August 4th. Maxim Group downgraded shares of Mesoblast from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Finally, StockNews.com started coverage on shares of Mesoblast in a report on Thursday, October 5th. They set a “sell” rating for the company.

Institutional Investors Weigh In On Mesoblast

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Mesoblast by 3.8% in the third quarter. BlackRock Inc. now owns 881,883 shares of the company’s stock worth $2,245,000 after acquiring an additional 32,346 shares during the last quarter. State Street Corp acquired a new stake in shares of Mesoblast in the first quarter worth approximately $757,000. Millennium Management LLC acquired a new stake in shares of Mesoblast in the fourth quarter worth approximately $344,000. Lazari Capital Management Inc. boosted its position in shares of Mesoblast by 9.3% in the third quarter. Lazari Capital Management Inc. now owns 94,034 shares of the company’s stock worth $116,000 after acquiring an additional 8,000 shares during the last quarter. Finally, Prosperity Wealth Management Inc. acquired a new stake in shares of Mesoblast in the third quarter worth approximately $79,000. 2.60% of the stock is owned by institutional investors and hedge funds.

Mesoblast Stock Performance

Shares of MESO opened at $1.16 on Tuesday. The company has a 50-day simple moving average of $1.26 and a 200-day simple moving average of $2.52. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $188.89 million, a PE ratio of -2.17 and a beta of 3.39. Mesoblast has a 52-week low of $1.12 and a 52-week high of $5.12.

Mesoblast (NASDAQ:MESO) last announced its quarterly earnings results on Wednesday, August 30th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. Mesoblast had a negative net margin of 1,061.43% and a negative return on equity of 16.32%. The business had revenue of $2.14 million during the quarter, compared to the consensus estimate of $2.00 million. Equities research analysts predict that Mesoblast will post -0.47 earnings per share for the current fiscal year.

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.