Mesoblast Limited (NASDAQ:MESO) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Mesoblast Limited (NASDAQ:MESO) has received a consensus rating of "Buy" from five brokerages, with an average 1-year price objective of $18.00.
• Recent stock activity saw Mesoblast shares trading down 13.3% to $13.83, with a range between a 12-month low of $6.00 and a high of $22.00.
• Hedge funds have increased their investments in Mesoblast, with notable stakes acquired by Barclays PLC, JPMorgan Chase & Co., and BNP Paribas Financial Markets.

Shares of Mesoblast Limited (NASDAQ:MESO - Get Free Report) have earned an average recommendation of "Buy" from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $18.00.

Several analysts have issued reports on the company. Jefferies Financial Group cut Mesoblast from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Canaccord Genuity Group raised Mesoblast to a "strong-buy" rating in a research report on Tuesday, August 5th.

Mesoblast Price Performance

NASDAQ MESO traded up $0.87 on Tuesday, reaching $14.39. 379,111 shares of the stock traded hands, compared to its average volume of 180,119. The company has a current ratio of 1.99, a quick ratio of 0.63 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average price of $14.08 and a 200-day moving average price of $12.80. Mesoblast has a 12 month low of $6.00 and a 12 month high of $22.00.

Institutional Trading of Mesoblast

Several hedge funds and other institutional investors have recently made changes to their positions in MESO. Barclays PLC acquired a new stake in shares of Mesoblast during the fourth quarter worth $38,000. JPMorgan Chase & Co. acquired a new stake in shares of Mesoblast during the fourth quarter worth $50,000. BNP Paribas Financial Markets lifted its stake in shares of Mesoblast by 86,566.7% during the fourth quarter. BNP Paribas Financial Markets now owns 2,600 shares of the company's stock worth $51,000 after buying an additional 2,597 shares during the period. Advisors Preferred LLC increased its stake in shares of Mesoblast by 224.9% in the first quarter. Advisors Preferred LLC now owns 4,578 shares of the company's stock worth $54,000 after acquiring an additional 3,169 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Mesoblast in the second quarter worth $86,000. Hedge funds and other institutional investors own 1.43% of the company's stock.

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.