Mesoblast Ltd. (MESO) Trading Up 17.4%
Mesoblast Ltd. (NASDAQ:MESO) shares were up 17.4% during trading on Thursday . The stock traded as high as $5.70 and last traded at $5.67, with a volume of 51,618 shares. The stock had previously closed at $4.83.
Several research analysts have commented on MESO shares. Maxim Group reissued a “buy” rating and set a $14.00 price target on shares of Mesoblast in a research note on Wednesday, July 6th. Zacks Investment Research downgraded shares of Mesoblast from a “buy” rating to a “sell” rating in a research note on Tuesday, May 17th. Finally, Credit Suisse Group AG downgraded shares of Mesoblast from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $10.00 to $5.00 in a research note 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 issued a buy rating to the company. Mesoblast currently has a consensus rating of “Hold” and an average target price of $9.10.
The company has a 50-day moving average of $4.21 and a 200 day moving average of $6.58. The stock’s market cap is $493.28 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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