Mesoblast Ltd. (MESO) Shares Up 17.4%
Mesoblast Ltd. (NASDAQ:MESO) shot up 17.4% on Thursday . The company traded as high as $5.70 and last traded at $5.67, with a volume of 51,618 shares changing hands. The stock had previously closed at $4.83.
A number of brokerages have weighed in on MESO. Maxim Group reaffirmed a “buy” rating and issued a $14.00 price objective (down previously from $18.00) on shares of Mesoblast in a report on Tuesday, May 10th. Zacks Investment Research lowered Mesoblast from a “buy” rating to a “sell” rating in a report on Tuesday, May 17th. Finally, Credit Suisse Group AG lowered Mesoblast from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $10.00 to $5.00 in a report on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $9.10.
The stock’s market cap is $429.92 million. The company has a 50 day moving average of $4.21 and a 200 day moving average of $6.58.
Mesoblast Limited is engaged in the development of adult stem cell technology platform for commercialization. The Company develops a portfolio of regenerative therapeutic cell-based products. Its portfolio of therapeutic products is being developed using its technology platforms, which include specialized cells known as mesenchymal lineage adult stem cells (MLCs), to treat conditions with unmet medical needs, including cardiac diseases, spine and musculoskeletal disorders, oncology and hematology diseases, and immune-mediated and inflammatory conditions.
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