Mesoblast (NASDAQ:MESO) Shares Up 13.6% - Time to Buy?

Mesoblast Limited (NASDAQ:MESO - Get Free Report)'s stock price rose 13.6% on Friday . The stock traded as high as $11.98 and last traded at $11.79. Approximately 53,600 shares were traded during trading, a decline of 93% from the average daily volume of 724,829 shares. The stock had previously closed at $10.38.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MESO. Maxim Group upgraded Mesoblast from a "hold" rating to a "buy" rating and set a $12.00 price objective for the company in a research report on Tuesday, September 24th. Cantor Fitzgerald reissued an "overweight" rating on shares of Mesoblast in a research report on Thursday, August 29th. StockNews.com cut shares of Mesoblast from a "hold" rating to a "sell" rating in a research report on Wednesday, September 4th. Finally, Jefferies Financial Group raised shares of Mesoblast from a "hold" rating to a "buy" rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $11.50.

Mesoblast Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18. The business has a 50-day simple moving average of $10.08 and a two-hundred day simple moving average of $8.08.

Institutional Investors Weigh In On Mesoblast

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Perkins Coie Trust Co grew its holdings in shares of Mesoblast by 15.0% in the 3rd quarter. Perkins Coie Trust Co now owns 11,500 shares of the company's stock valued at $94,000 after acquiring an additional 1,500 shares in the last quarter. Signaturefd LLC increased its position in shares of Mesoblast by 128.7% during the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company's stock worth $45,000 after purchasing an additional 3,099 shares during the last quarter. Lazari Capital Management Inc. increased its position in shares of Mesoblast by 6.6% during the 2nd quarter. Lazari Capital Management Inc. now owns 53,467 shares of the company's stock worth $364,000 after purchasing an additional 3,300 shares during the last quarter. Chapin Davis Inc. raised its stake in shares of Mesoblast by 50.0% during the 2nd quarter. Chapin Davis Inc. now owns 15,000 shares of the company's stock worth $102,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co acquired a new stake in shares of Mesoblast in the 2nd quarter valued at approximately $80,000. 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.