Mesoblast (NASDAQ:MESO) Receives “Overweight” Rating from Piper Sandler

Mesoblast (NASDAQ:MESO)‘s stock had its “overweight” rating restated by Piper Sandler in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $24.00 target price on the stock, up from their prior target price of $15.00. Piper Sandler’s price target would indicate a potential upside of 20.94% from the company’s previous close.

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

Mesoblast Trading Up 6.2 %

Shares of MESO stock traded up $1.16 during mid-day trading on Friday, hitting $19.85. 61,533 shares of the stock traded hands, compared to its average volume of 433,578. 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 stock’s fifty day moving average is $16.33 and its two-hundred day moving average is $10.92. Mesoblast has a 52-week low of $1.75 and a 52-week high of $22.00.

Institutional Investors Weigh In On Mesoblast

Several institutional investors have recently made changes to their positions in MESO. R Squared Ltd acquired a new position in shares of Mesoblast during the 4th quarter valued at about $30,000. Lindbrook Capital LLC grew its position in shares of Mesoblast by 70.9% during the fourth quarter. Lindbrook Capital LLC now owns 2,172 shares of the company’s stock worth $43,000 after buying an additional 901 shares in the last quarter. Signaturefd LLC raised 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 purchasing an additional 3,099 shares in the last quarter. GAMMA Investing LLC increased its position in Mesoblast by 22.1% in the fourth quarter. GAMMA Investing LLC now owns 6,711 shares of the company’s stock worth $133,000 after buying an additional 1,213 shares during the period. Finally, China Universal Asset Management Co. Ltd. bought a new stake in Mesoblast in the fourth quarter valued at $134,000. 1.43% of the stock is currently owned by hedge funds and other institutional investors.

About Mesoblast

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.