Piper Sandler Forecasts Strong Price Appreciation for Mesoblast (NASDAQ:MESO) Stock

Mesoblast (NASDAQ:MESO) had its price target hoisted by analysts at Piper Sandler from $11.00 to $15.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently 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.

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

Mesoblast Trading Down 12.7 %

NASDAQ:MESO opened at $14.63 on Thursday. 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 firm’s fifty day simple moving average is $10.48 and its 200 day simple moving average is $8.28. Mesoblast has a twelve month low of $1.61 and a twelve month high of $19.15.

Hedge Funds Weigh In On Mesoblast

A number of institutional investors and hedge funds have recently made changes to their positions in MESO. Pine Valley Investments Ltd Liability Co purchased a new stake in shares of Mesoblast in the 2nd quarter worth approximately $80,000. Rathbones Group PLC bought a new stake in Mesoblast in the second quarter worth $95,000. XTX Topco Ltd purchased a new stake in shares of Mesoblast in the second quarter worth $103,000. Marshall Wace LLP bought a new position in shares of Mesoblast during the second quarter valued at $562,000. Finally, Lazari Capital Management Inc. raised its position in shares of Mesoblast by 6.6% in the 2nd quarter. Lazari Capital Management Inc. now owns 53,467 shares of the company’s stock worth $364,000 after purchasing an additional 3,300 shares during the last quarter. 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.