Maxim Group Analysts Give Mesoblast (MESO) a $14.00 Price Target

Maxim Group set a $14.00 target price on Mesoblast (NASDAQ:MESO) in a research note issued to investors on Monday, December 18th. The firm currently has a buy rating on the stock.

“Mesoblast announced that TiGenix paid to license IP. We view this early decision by Belgium-based TiGenix (TIG – NR) as an indication of the strength of Mesoblast’s IP estate. As a result, Mesoblast gives TiGenix freedom to operate (global commercialization) for the company’s adipose stem cell product Cx601,” for the local treatment of fistulae. Mesoblast will receive up to €20 million (approximately USD$24 million) in payments, with €5 million upfront, €5 million within 12 months, and up to €10 million in product regulatory milestones. Additionally, Mesoblast will receive single digit royalties on net sales of Cx601.”,” the firm’s analyst commented.

MESO has been the topic of several other research reports. Cantor Fitzgerald reaffirmed a buy rating on shares of Mesoblast in a research note on Wednesday, August 23rd. Zacks Investment Research downgraded shares of Mesoblast from a buy rating to a hold rating in a research note on Wednesday, November 1st. Oppenheimer set a $16.00 target price on shares of Mesoblast and gave the company a buy rating in a research report on Tuesday, November 14th. ValuEngine downgraded shares of Mesoblast from a hold rating to a sell rating in a research report on Friday, September 15th. Finally, CIBC began coverage on shares of Mesoblast in a research report on Thursday, August 31st. They set an outperform rating and a $16.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $13.14.

Mesoblast (NASDAQ:MESO) traded up $0.25 during trading on Monday, hitting $5.89. 91,054 shares of the stock traded hands, compared to its average volume of 42,122. The company has a market cap of $537.63, a price-to-earnings ratio of -7.18 and a beta of 2.44. Mesoblast has a 12-month low of $4.80 and a 12-month high of $12.50.

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