Mesoblast (NASDAQ:MESO) Upgraded to “Overweight” by Piper Sandler

Piper Sandler upgraded shares of Mesoblast (NASDAQ:MESO) from a neutral rating to an overweight rating in a research note released on Tuesday morning, Marketbeat Ratings reports. Piper Sandler currently has $11.00 price objective on the stock, up from their prior price objective of $4.00.

Other analysts have also recently issued reports about the stock. Cantor Fitzgerald reissued an overweight rating on shares of Mesoblast in a research note on Thursday, June 20th. StockNews.com cut shares of Mesoblast from a hold rating to a sell rating in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $16.00.

Mesoblast Price Performance

Shares of NASDAQ MESO opened at $7.40 on Tuesday. The firm has a fifty day moving average price of $7.40 and a 200-day moving average price of $4.97. The stock has a market cap of $844.93 million, a PE ratio of -6.65 and a beta of 3.48. Mesoblast has a 1 year low of $1.61 and a 1 year high of $8.66.

Hedge Funds Weigh In On Mesoblast

Several institutional investors have recently bought and sold shares of MESO. GAMMA Investing LLC grew its stake 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 acquiring an additional 1,663 shares in the last quarter. Perkins Coie Trust Co purchased a new position in Mesoblast during the second quarter valued at $68,000. Chapin Davis Inc. grew its stake 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 acquiring an additional 5,000 shares in the last quarter. Finally, Chase Investment Counsel Corp purchased a new position in Mesoblast during the first quarter valued at $298,000. 1.43% of the stock is owned by hedge funds and other institutional investors.

About Mesoblast

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.