Mesoblast Limited (NASDAQ:MESO) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Mesoblast Limited (NASDAQ:MESO) have been given a consensus rating of “Hold” by the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $16.00.

MESO has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a research report on Thursday, June 20th. Piper Sandler upgraded Mesoblast from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $4.00 to $11.00 in a research report on Tuesday, July 23rd. Finally, StockNews.com downgraded Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th.

Institutional Investors Weigh In On Mesoblast

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MESO. Chase Investment Counsel Corp purchased a new stake in Mesoblast during the first quarter valued at approximately $298,000. GAMMA Investing LLC raised its position in Mesoblast by 50.1% during the second quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock valued at $34,000 after purchasing an additional 1,663 shares during the period. Perkins Coie Trust Co purchased a new stake in Mesoblast during the second quarter valued at approximately $68,000. Finally, Chapin Davis Inc. raised its position in Mesoblast by 50.0% during the second quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock valued at $102,000 after purchasing an additional 5,000 shares during the period. 1.43% of the stock is currently owned by hedge funds and other institutional investors.

Mesoblast Stock Down 0.3 %

Shares of Mesoblast stock opened at $7.40 on Friday. The stock’s 50-day simple moving average is $7.41 and its 200-day simple moving average is $5.02. Mesoblast has a 52 week low of $1.61 and a 52 week high of $8.66. The company has a market capitalization of $844.93 million, a price-to-earnings ratio of -6.61 and a beta of 3.48.

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.