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.
A number of equities analysts have weighed in on MESO shares. Maxim Group reaffirmed a “buy” rating and set a $14.00 price target on shares of Mesoblast in a research report on Wednesday, July 6th. Zacks Investment Research downgraded Mesoblast from a “buy” rating to a “sell” rating in a research report on Tuesday, May 17th. Finally, Credit Suisse Group AG downgraded Mesoblast from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $10.00 to $5.00 in a research 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 issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $9.10.
The company’s 50 day moving average is $4.21 and its 200-day moving average is $6.58. The company’s market capitalization 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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