Mesoblast Ltd. (MESO) Shares Gap Down to $5.70
Mesoblast Ltd. (NASDAQ:MESO)’s share price gapped down before the market opened on Friday . The stock had previously closed at $5.59, but opened at $5.70. Mesoblast shares last traded at $6.30, with a volume of 48,843 shares trading hands.
Several brokerages have recently commented on MESO. Maxim Group restated a “buy” rating on shares of Mesoblast in a research note on Saturday, June 4th. Credit Suisse Group AG lowered Mesoblast from an “outperform” rating to a “neutral” rating and cut their price target for the company from $10.00 to $5.00 in a research note on Tuesday, June 14th. Finally, Zacks Investment Research lowered Mesoblast from a “buy” rating to a “sell” rating in a research note on Tuesday, May 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.10.
The company’s market cap is $493.28 million. The stock’s 50-day moving average is $4.21 and its 200-day moving average is $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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