Piper Sandler Reaffirms "Overweight" Rating for Mesoblast (NASDAQ:MESO)

Mesoblast (NASDAQ:MESO - Get Free Report)'s stock had its "overweight" rating reiterated by equities researchers at Piper Sandler in a report released on Friday,Benzinga reports. They currently have a $24.00 price objective on the stock, up from their previous price objective of $15.00. Piper Sandler's price objective suggests a potential upside of 29.87% from the company's previous close.

Several other equities research analysts have also recently commented on MESO. Jefferies Financial Group cut shares of Mesoblast from a "buy" rating to a "hold" rating in a research report on Monday, December 23rd. Cantor Fitzgerald upgraded shares of Mesoblast to a "strong-buy" rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

Mesoblast Trading Down 1.1 %

Shares of Mesoblast stock traded down $0.20 during trading hours on Friday, hitting $18.48. The company's stock had a trading volume of 108,111 shares, compared to its average volume of 424,998. Mesoblast has a 12 month low of $1.81 and a 12 month high of $22.00. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average of $16.62 and a 200 day moving average of $11.12.

Hedge Funds Weigh In On Mesoblast

Hedge funds have recently bought and sold shares of the company. R Squared Ltd acquired a new stake in shares of Mesoblast in the 4th quarter valued at approximately $30,000. Lindbrook Capital LLC lifted its position in shares of Mesoblast by 70.9% in the 4th quarter. Lindbrook Capital LLC now owns 2,172 shares of the company's stock worth $43,000 after purchasing an additional 901 shares during the period. Signaturefd LLC increased its stake in shares of Mesoblast by 128.7% in the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company's stock valued at $45,000 after acquiring an additional 3,099 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Mesoblast by 22.1% in the 4th quarter. GAMMA Investing LLC now owns 6,711 shares of the company's stock valued at $133,000 after acquiring an additional 1,213 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of Mesoblast in the 4th quarter valued at $134,000. 1.43% of the stock is owned by institutional investors.

Mesoblast Company Profile

Mesoblast Limited engages in the development of regenerative medicine products in Australia, the United States, Singapore, and Switzerland. The company offers products in the areas of cardiovascular, spine orthopedic disorder, oncology, hematology, and immune-mediated and inflammatory diseases. Its proprietary regenerative medicine technology platform is based on specialized cells known as mesenchymal lineage cells.