Mesoblast (MESO) Lowered to “Underperform” at Credit Suisse Group

Credit Suisse Group downgraded shares of Mesoblast (NASDAQ:MESO) from a neutral rating to an underperform rating in a research note released on Thursday, Marketbeat Ratings reports. They currently have $6.00 price target on the stock.

A number of other brokerages have also recently issued reports on MESO. Maxim Group set a $14.00 price objective on shares of Mesoblast and gave the company a buy rating in a report on Wednesday, March 7th. Cantor Fitzgerald set a $23.00 price objective on shares of Mesoblast and gave the company a buy rating in a report on Tuesday, February 27th. Oppenheimer set a $16.00 price objective on shares of Mesoblast and gave the company a buy rating in a report on Wednesday, December 20th. Finally, Zacks Investment Research cut shares of Mesoblast from a buy rating to a hold rating in a report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $12.82.

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Shares of Mesoblast stock opened at $5.66 on Thursday. Mesoblast has a 1 year low of $4.74 and a 1 year high of $12.50. The company has a market cap of $533.01, a P/E ratio of -15.30 and a beta of 1.83.

A hedge fund recently bought a new stake in Mesoblast stock. Penbrook Management LLC purchased a new stake in Mesoblast limited (NASDAQ:MESO) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 266,800 shares of the company’s stock, valued at approximately $1,558,000. Mesoblast accounts for approximately 1.4% of Penbrook Management LLC’s holdings, making the stock its 18th biggest holding. Penbrook Management LLC owned 0.28% of Mesoblast at the end of the most recent reporting period. Hedge funds and other institutional investors own 2.85% of the company’s stock.

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About Mesoblast

Mesoblast Limited is engaged in developing cell-based medicines. The Company has leveraged its technology platform, which is based on specialized cells known as mesenchymal lineage adult stem cells, to establish a portfolio of late-stage product candidates. Its 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.

Analyst Recommendations for Mesoblast (NASDAQ:MESO)

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