Mesoblast Ltd. (MESO) Trading Down 1.2%
Mesoblast Ltd. (NASDAQ:MESO)’s share price dropped 1.2% on Monday . The company traded as low as $6.06 and last traded at $6.46, with a volume of 54,855 shares. The stock had previously closed at $6.54.
MESO has been the topic of a number of research analyst reports. Maxim Group restated a “buy” rating and issued a $14.00 target price (down previously from $18.00) on shares of Mesoblast in a research note on Tuesday, May 10th. Zacks Investment Research downgraded Mesoblast from a “buy” rating to a “sell” rating in a research note on Tuesday, May 17th. Finally, Credit Suisse Group AG downgraded Mesoblast from an “outperform” rating to a “neutral” rating and dropped their price objective for the company 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 given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $9.10.
The company’s market cap is $441.24 million. The stock has a 50 day moving average of $4.42 and a 200-day moving average of $6.61.
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.