Maxim Group Upgrades Mesoblast (NASDAQ:MESO) to Buy

Mesoblast (NASDAQ:MESO) was upgraded by stock analysts at Maxim Group from a “hold” rating to a “buy” rating in a report released on Tuesday, Marketbeat.com reports. The brokerage currently has a $12.00 price target on the stock. Maxim Group’s target price points to a potential upside of 71.92% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Jefferies Financial Group upgraded Mesoblast from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. Piper Sandler upgraded shares of Mesoblast from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $4.00 to $11.00 in a research report on Tuesday, July 23rd. Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a report on Thursday, August 29th. Finally, StockNews.com lowered Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, Mesoblast has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

Mesoblast Price Performance

MESO opened at $6.98 on Tuesday. Mesoblast has a 12-month low of $1.61 and a 12-month high of $8.66. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $796.98 million, a P/E ratio of -6.23 and a beta of 3.47. The stock has a fifty day moving average of $6.59 and a 200-day moving average of $6.40.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its position in Mesoblast by 50.1% during the second quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock worth $34,000 after buying an additional 1,663 shares during the last quarter. Chapin Davis Inc. raised its stake in shares of Mesoblast by 50.0% in the 2nd 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. Rathbones Group PLC acquired a new stake in Mesoblast in the 2nd quarter worth approximately $95,000. Pine Valley Investments Ltd Liability Co bought a new stake in Mesoblast during the second quarter worth approximately $80,000. Finally, Marshall Wace LLP acquired a new position in Mesoblast during the second quarter valued at approximately $562,000. Institutional investors and hedge funds 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.