Piper Sandler Issues Positive Forecast for Mesoblast (NASDAQ:MESO) Stock Price

Mesoblast (NASDAQ:MESO - Get Free Report) had its target price raised by Piper Sandler from $11.00 to $15.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's target price would indicate a potential downside of 10.50% from the stock's current price.

MESO has been the subject of several other research reports. Cantor Fitzgerald restated an "overweight" rating on shares of Mesoblast in a report on Thursday, August 29th. StockNews.com cut shares of Mesoblast from a "hold" rating to a "sell" rating in a report on Wednesday, September 4th. Jefferies Financial Group upgraded shares of Mesoblast from a "hold" rating to a "buy" rating in a report on Thursday, August 29th. Finally, Maxim Group raised shares of Mesoblast from a "hold" rating to a "buy" rating and set a $12.00 price objective on the stock in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Mesoblast presently has an average rating of "Moderate Buy" and an average target price of $13.50.

Mesoblast Price Performance

Shares of MESO traded up $4.51 during trading hours on Thursday, reaching $16.76. 3,970,174 shares of the stock traded hands, compared to its average volume of 736,472. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21. Mesoblast has a 52-week low of $1.61 and a 52-week high of $19.15. The company's 50-day moving average price is $10.24 and its two-hundred day moving average price is $8.17.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Signaturefd LLC increased its holdings in Mesoblast by 128.7% in the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company's stock worth $45,000 after acquiring an additional 3,099 shares in the last quarter. Pine Valley Investments Ltd Liability Co purchased a new stake in shares of Mesoblast during the second quarter worth about $80,000. Perkins Coie Trust Co raised its position in shares of Mesoblast by 15.0% during the 3rd quarter. Perkins Coie Trust Co now owns 11,500 shares of the company's stock worth $94,000 after purchasing an additional 1,500 shares during the last quarter. Rathbones Group PLC purchased a new position in Mesoblast in the 2nd quarter valued at about $95,000. Finally, XTX Topco Ltd acquired a new stake in Mesoblast in the 2nd quarter worth about $103,000. 1.43% of the stock is owned by institutional investors and hedge funds.

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.