Mesoblast Ltd. (MESO) Shares Gap Up to $4.28
Mesoblast Ltd. (NASDAQ:MESO)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $4.17, but opened at $4.28. Mesoblast shares last traded at $4.75, with a volume of 35,001 shares.
MESO has been the subject of a number of recent research reports. Maxim Group reiterated a “buy” rating and issued a $14.00 target price (down from $18.00) on shares of Mesoblast in a report on Tuesday, May 10th. Zacks Investment Research downgraded shares of Mesoblast from a “buy” rating to a “sell” rating in a report on Tuesday, May 17th. Finally, Credit Suisse Group AG downgraded shares of Mesoblast from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $10.00 to $5.00 in a report on Tuesday, June 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $9.10.
The stock’s 50-day moving average is $4.16 and its 200-day moving average is $6.58. The company’s market cap is $416.35 million.
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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