Zacks Investment Research cut shares of Mesoblast (NASDAQ:MESO) from a buy rating to a hold rating in a report issued on Wednesday morning.
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 brokerages also recently issued reports on MESO. HC Wainwright set a $17.00 price objective on Mesoblast and gave the company a buy rating in a research note on Thursday, August 30th. TheStreet upgraded Mesoblast from a d+ rating to a c- rating in a research note on Monday, October 1st. Maxim Group boosted their price objective on Mesoblast from $14.00 to $16.00 and gave the company a buy rating in a research note on Wednesday, July 18th. ValuEngine upgraded Mesoblast from a sell rating to a hold rating in a research note on Thursday, July 5th. Finally, Cantor Fitzgerald set a $23.00 price objective on Mesoblast and gave the company a buy rating in a research note on Monday, October 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Mesoblast presently has an average rating of Buy and an average target price of $14.13.
Shares of Mesoblast stock traded down $0.08 during trading hours on Wednesday, reaching $7.18. 78,394 shares of the stock traded hands, compared to its average volume of 43,142. Mesoblast has a one year low of $4.74 and a one year high of $8.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.21 and a current ratio of 4.21.
Mesoblast (NASDAQ:MESO) last released its quarterly earnings results on Wednesday, August 29th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.01. The business had revenue of $1.70 million during the quarter, compared to the consensus estimate of $2.51 million. Mesoblast had a negative return on equity of 10.48% and a negative net margin of 203.51%. On average, equities research analysts expect that Mesoblast will post -1.01 EPS for the current year.
A hedge fund recently bought a new stake in Mesoblast stock. Jane Street Group LLC purchased a new position in Mesoblast limited (NASDAQ:MESO) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 17,731 shares of the company’s stock, valued at approximately $102,000. Institutional investors and hedge funds own 2.74% of the company’s stock.
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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