Mesoblast (NASDAQ:MESO) Stock Rating Upgraded by Maxim Group

Mesoblast (NASDAQ:MESO) was upgraded by analysts at Maxim Group from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Briefing.com reports. The brokerage presently has a $12.00 price target on the stock. Maxim Group’s target price indicates a potential upside of 78.04% from the stock’s previous close.

Several other analysts have also commented on the stock. Jefferies Financial Group raised shares of Mesoblast from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th. Piper Sandler upgraded shares of Mesoblast from a “neutral” rating to an “overweight” rating and upped their price target for the company from $4.00 to $11.00 in a research report on Tuesday, July 23rd. Finally, StockNews.com downgraded shares of Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

Mesoblast Stock Down 1.6 %

MESO stock opened at $6.74 on Tuesday. Mesoblast has a 12 month low of $1.61 and a 12 month high of $8.66. The firm has a market cap of $769.56 million, a PE ratio of -6.02 and a beta of 3.47. The firm has a 50 day simple moving average of $6.60 and a 200 day simple moving average of $6.36. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.18 and a quick ratio of 1.18.

Institutional Investors Weigh In On Mesoblast

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Mesoblast by 50.1% in the 2nd quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock valued at $34,000 after buying an additional 1,663 shares during the period. Perkins Coie Trust Co acquired a new position in Mesoblast in the 2nd quarter valued at approximately $68,000. Pine Valley Investments Ltd Liability Co acquired a new position in Mesoblast in the 2nd quarter valued at approximately $80,000. Rathbones Group PLC acquired a new position in Mesoblast in the 2nd quarter valued at approximately $95,000. Finally, Chapin Davis Inc. increased its stake in 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 buying an additional 5,000 shares during the period. Hedge funds and other 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.