Mesoblast (NASDAQ:MESO) Hits New 12-Month High – Still a Buy?

Mesoblast Limited (NASDAQ:MESO)’s stock price reached a new 52-week high on Friday . The company traded as high as $21.45 and last traded at $20.4250, with a volume of 1141 shares. The stock had previously closed at $19.87.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mesoblast in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Mesoblast currently has an average rating of “Moderate Buy” and an average target price of $24.00.

Mesoblast Stock Performance

The firm’s 50 day moving average is $17.26 and its 200-day moving average is $15.80. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of -23.95 and a beta of 2.14. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.77 and a current ratio of 1.99.

Institutional Investors Weigh In On Mesoblast

A number of institutional investors have recently modified their holdings of MESO. Goldman Sachs Group Inc. acquired a new position in Mesoblast in the 1st quarter worth about $3,209,000. Ballentine Partners LLC purchased a new stake in shares of Mesoblast in the second quarter valued at approximately $124,000. Lazari Capital Management Inc. raised its stake in shares of Mesoblast by 2.2% during the 2nd quarter. Lazari Capital Management Inc. now owns 46,471 shares of the company’s stock worth $506,000 after buying an additional 1,003 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in shares of Mesoblast by 27.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,331 shares of the company’s stock valued at $145,000 after buying an additional 2,832 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Mesoblast in the 2nd quarter valued at $126,000. 1.43% of the stock is currently owned by institutional investors and hedge funds.

About Mesoblast

Mesoblast Limited is a global leader in allogeneic cellular medicines, focused on developing treatments for inflammatory and immunologic diseases. Founded in 2004 by Dr. Silviu Itescu, the company builds on proprietary mesenchymal lineage cell technology to create off-the-shelf, donor-derived therapies. These therapies are designed to modulate immune responses and promote tissue repair in conditions where existing medical options are limited or ineffective.

The company’s most advanced product, Alofisel® (darvadstrocel), has been approved in Europe for the treatment of complex perianal fistulas in adults with Crohn’s disease.