Mesoblast (NASDAQ:MESO) Reaches New 1-Year High – Should You Buy?

Shares of Mesoblast Limited (NASDAQ:MESO) hit a new 52-week high during trading on Wednesday . The company traded as high as $11.29 and last traded at $11.05, with a volume of 151395 shares changing hands. The stock had previously closed at $9.95.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Piper Sandler raised shares of Mesoblast from a “neutral” rating to an “overweight” rating and upped their target price for the company from $4.00 to $11.00 in a report on Tuesday, July 23rd. Maxim Group raised shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Tuesday, September 24th. StockNews.com cut shares of Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Jefferies Financial Group raised shares of Mesoblast from a “hold” rating to a “buy” rating in a report on Thursday, August 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mesoblast in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.50.

Mesoblast Price Performance

The company’s 50 day moving average is $8.26 and its two-hundred day moving average is $7.51. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18.

Institutional Investors Weigh In On Mesoblast

Institutional investors have recently made changes to their positions in the company. Marshall Wace LLP purchased a new position in Mesoblast in the 2nd quarter worth about $562,000. Lazari Capital Management Inc. increased its stake in 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 buying an additional 3,300 shares during the period. XY Capital Ltd purchased a new position in Mesoblast in the 3rd quarter worth about $244,000. Creative Planning purchased a new position in Mesoblast in the 3rd quarter worth about $147,000. Finally, XTX Topco Ltd purchased a new position in Mesoblast in the 2nd quarter worth about $103,000. 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.