Piper Sandler Reaffirms “Overweight” Rating for Mesoblast (NASDAQ:MESO)

Mesoblast (NASDAQ:MESO)‘s stock had its “overweight” rating reaffirmed by Piper Sandler in a research note issued to investors on Friday,Benzinga reports. They currently have a $24.00 price target on the stock, up from their prior price target of $15.00. Piper Sandler’s price target suggests a potential upside of 20.94% from the company’s previous close.

A number of other brokerages have also commented on MESO. Jefferies Financial Group lowered Mesoblast from a “buy” rating to a “hold” rating in a report on Monday, December 23rd. Cantor Fitzgerald upgraded Mesoblast to a “strong-buy” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.00.

Mesoblast Price Performance

Shares of MESO traded up $1.16 on Friday, reaching $19.85. 61,533 shares of the company’s stock were exchanged, compared to its average volume of 433,578. The business has a 50 day moving average price of $16.33 and a two-hundred day moving average price of $10.92. Mesoblast has a 12 month low of $1.75 and a 12 month high of $22.00. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21.

Institutional Trading of Mesoblast

Institutional investors have recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC purchased a new stake in shares of Mesoblast during the fourth quarter worth about $2,744,000. XY Capital Ltd bought a new stake in Mesoblast during the 3rd quarter worth approximately $244,000. Jane Street Group LLC raised its holdings in Mesoblast by 46.4% during the third quarter. Jane Street Group LLC now owns 85,102 shares of the company’s stock valued at $695,000 after acquiring an additional 26,959 shares during the period. Creative Planning bought a new stake in Mesoblast in the 3rd quarter valued at $147,000. Finally, Clayton Financial Group LLC purchased a new stake in shares of Mesoblast during the 4th quarter valued at about $275,000. Hedge funds and other institutional investors own 1.43% of the company’s stock.

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.