Mesoblast (NASDAQ:MESO) Stock Price Expected to Rise, Piper Sandler Analyst Says

Mesoblast (NASDAQ:MESO) had its target price lifted by research analysts at Piper Sandler from $11.00 to $15.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 2.53% from the company’s previous close.

Several other equities research analysts have also issued reports on MESO. Jefferies Financial Group upgraded shares of Mesoblast from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. Maxim Group upgraded shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Tuesday, September 24th. StockNews.com downgraded Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.

Mesoblast Stock Performance

Shares of MESO opened at $14.63 on Thursday. Mesoblast has a 12-month low of $1.61 and a 12-month high of $19.15. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $10.48 and a 200-day moving average price of $8.28.

Hedge Funds Weigh In On Mesoblast

Several institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace LLP purchased a new position in shares of Mesoblast in the second quarter worth $562,000. Signaturefd LLC grew its holdings in Mesoblast by 128.7% in the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock worth $45,000 after acquiring an additional 3,099 shares during the last quarter. Rathbones Group PLC purchased a new position in shares of Mesoblast in the second quarter valued at about $95,000. Creative Planning bought a new position in shares of Mesoblast during the third quarter valued at about $147,000. Finally, Perkins Coie Trust Co boosted its holdings in shares of Mesoblast by 15.0% during the third quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock worth $94,000 after purchasing an additional 1,500 shares during the period. Institutional investors own 1.43% of the company’s stock.

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.