Shares of Mesoblast limited (NASDAQ:MESO) rose 13% during trading on Friday . The stock traded as high as $10.39 and last traded at $9.39, approximately 403,000 shares changed hands during mid-day trading. An increase of 313% from the average daily volume of 97,608 shares. The stock had previously closed at $8.31.
MESO has been the subject of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 price target on shares of Mesoblast in a research report on Tuesday, October 22nd. ValuEngine downgraded shares of Mesoblast from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. HC Wainwright reiterated a “buy” rating and issued a $8.00 price target on shares of Mesoblast in a research report on Tuesday, November 26th. TheStreet upgraded shares of Mesoblast from a “d” rating to a “c-” rating in a research report on Monday, December 2nd. Finally, Maxim Group reiterated a “buy” rating and issued a $16.00 price target on shares of Mesoblast in a research report on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Mesoblast presently has a consensus rating of “Buy” and a consensus target price of $11.96.
The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $828.76 million, a price-to-earnings ratio of -9.13 and a beta of 1.82. The firm’s 50 day simple moving average is $7.15 and its 200-day simple moving average is $6.08.
Mesoblast (NASDAQ:MESO) last announced its quarterly earnings data on Monday, November 25th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.09. The company had revenue of $17.05 million for the quarter, compared to analysts’ expectations of $16.48 million. Mesoblast had a negative net margin of 342.39% and a negative return on equity of 15.30%. As a group, sell-side analysts forecast that Mesoblast limited will post -0.46 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in MESO. Morgan Stanley increased its stake in Mesoblast by 284.6% in the 2nd quarter. Morgan Stanley now owns 147,702 shares of the company’s stock valued at $784,000 after buying an additional 109,295 shares during the period. Penbrook Management LLC increased its stake in Mesoblast by 3.9% in the 4th quarter. Penbrook Management LLC now owns 232,100 shares of the company’s stock valued at $1,711,000 after buying an additional 8,800 shares during the period. Finally, AdvisorNet Financial Inc increased its stake in Mesoblast by 72.5% in the 3rd quarter. AdvisorNet Financial Inc now owns 13,800 shares of the company’s stock valued at $96,000 after buying an additional 5,800 shares during the period. 2.67% of the stock is currently owned by institutional investors.
About Mesoblast (NASDAQ:MESO)
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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