Mesoblast (NASDAQ:MESO) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Mesoblast (NASDAQ:MESOGet Rating) from a hold rating to a sell rating in a research note published on Thursday morning, Zacks.com reports.

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. “

Separately, StockNews.com started coverage on Mesoblast in a research note on Wednesday. They set a sell rating for the company. Three analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Mesoblast has a consensus rating of Hold and an average price target of $9.83.

NASDAQ MESO opened at $3.58 on Thursday. The firm has a market cap of $465.72 million, a price-to-earnings ratio of -4.71 and a beta of 3.05. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $4.06 and a 200-day moving average price of $4.63. Mesoblast has a twelve month low of $3.23 and a twelve month high of $8.85.

Mesoblast (NASDAQ:MESOGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported ($0.20) EPS for the quarter. Mesoblast had a negative net margin of 982.76% and a negative return on equity of 17.07%. The firm had revenue of $2.38 million for the quarter, compared to the consensus estimate of $2.70 million. Research analysts expect that Mesoblast will post -0.49 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of MESO. Morgan Stanley raised its holdings in shares of Mesoblast by 16.6% in the first quarter. Morgan Stanley now owns 51,715 shares of the company’s stock worth $428,000 after buying an additional 7,369 shares during the period. BlackRock Inc. raised its holdings in shares of Mesoblast by 3.3% in the third quarter. BlackRock Inc. now owns 807,470 shares of the company’s stock worth $4,853,000 after buying an additional 26,032 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Mesoblast by 12.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 390,407 shares of the company’s stock worth $2,346,000 after buying an additional 43,933 shares during the period. Cetera Advisor Networks LLC raised its holdings in shares of Mesoblast by 43.1% in the third quarter. Cetera Advisor Networks LLC now owns 36,500 shares of the company’s stock worth $219,000 after buying an additional 11,000 shares during the period. Finally, Penbrook Management LLC raised its holdings in shares of Mesoblast by 3.8% in the fourth quarter. Penbrook Management LLC now owns 255,850 shares of the company’s stock worth $1,228,000 after buying an additional 9,400 shares during the period. Institutional investors and hedge funds own 2.72% of the company’s stock.

About Mesoblast (Get Rating)

Mesoblast Limited, a biopharmaceutical company, develops and commercializes allogeneic cellular medicines in the United States, Australia, Singapore, the United Kingdom, and Switzerland. The company offers products in the areas of cardiovascular, spine orthopedic disorder, oncology, hematology, and immune-mediated and inflammatory diseases.

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