Cantor Fitzgerald Reiterates “$23.00” Price Target for Mesoblast (NASDAQ:MESO)

Cantor Fitzgerald set a $23.00 price objective on Mesoblast (NASDAQ:MESO) in a report released on Tuesday morning, TipRanks reports. The brokerage currently has a buy rating on the stock.

MESO has been the subject of a number of other reports. Maxim Group reissued a buy rating and set a $16.00 price objective on shares of Mesoblast in a research report on Wednesday, June 12th. Oppenheimer set a $10.00 target price on shares of Mesoblast and gave the company a buy rating in a report on Tuesday. Zacks Investment Research downgraded shares of Mesoblast from a buy rating to a hold rating in a research note on Friday, September 6th. Chardan Capital set a $6.00 price target on shares of Mesoblast and gave the stock a hold rating in a report on Friday, August 30th. Finally, ValuEngine upgraded shares of Mesoblast from a hold rating to a buy rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Mesoblast has a consensus rating of Buy and a consensus price target of $11.25.

NASDAQ:MESO traded up $0.46 during midday trading on Tuesday, reaching $6.54. The company had a trading volume of 239,711 shares, compared to its average volume of 48,602. Mesoblast has a 12-month low of $3.35 and a 12-month high of $8.78. The firm has a market capitalization of $473.68 million, a price-to-earnings ratio of -7.19 and a beta of 1.77. The company has a current ratio of 1.41, a quick ratio of 1.92 and a debt-to-equity ratio of 0.14. The stock’s fifty day simple moving average is $5.06 and its 200-day simple moving average is $5.09.

Mesoblast (NASDAQ:MESO) last issued its quarterly earnings results on Thursday, August 29th. The company reported ($0.21) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.02. The company had revenue of $1.97 million for the quarter, compared to the consensus estimate of $1.31 million. Mesoblast had a negative return on equity of 17.66% and a negative net margin of 536.97%. As a group, sell-side analysts expect that Mesoblast will post -0.86 EPS for the current year.

A hedge fund recently raised its stake in Mesoblast stock. Morgan Stanley grew its holdings in Mesoblast limited (NASDAQ:MESO) by 284.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 147,702 shares of the company’s stock after acquiring an additional 109,295 shares during the quarter. Morgan Stanley owned about 0.16% of Mesoblast worth $784,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 2.76% of the company’s stock.

About Mesoblast

Mesoblast Limited, a biopharmaceutical company, develops and commercializes allogeneic cellular medicines. Its proprietary regenerative medicine technology platform is based on specialized cells known as mesenchymal lineage adult stem cells. The company's products under the Phase III clinical trials include MSC-100-IV for steroid refractory acute graft versus host disease; MPC-150-IM for advanced heart failure; and MPC-06-ID for chronic low back pain due to degenerative disc disease.

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Analyst Recommendations for Mesoblast (NASDAQ:MESO)

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