Mesoblast limited (NASDAQ:MESO) shares shot up 7.2% during trading on Thursday . The company traded as high as $6.72 and last traded at $6.72, 163,614 shares were traded during trading. An increase of 256% from the average session volume of 45,906 shares. The stock had previously closed at $6.27.
A number of brokerages recently commented on MESO. TheStreet raised shares of Mesoblast from a “d” rating to a “c-” rating in a research report on Monday. ValuEngine downgraded shares of Mesoblast from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Oppenheimer set a $10.00 target price on shares of Mesoblast and gave the company a “buy” rating in a research note on Tuesday, September 10th. Maxim Group restated a “buy” rating and set a $16.00 price target on shares of Mesoblast in a report on Wednesday, November 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of Mesoblast in a research note on Tuesday, November 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $11.63.
The firm has a market capitalization of $625.31 million, a price-to-earnings ratio of -6.89 and a beta of 1.78. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average price of $6.10 and a 200-day moving average price of $5.59.
A hedge fund recently raised its stake in Mesoblast stock. Morgan Stanley increased its position in Mesoblast limited (NASDAQ:MESO) by 284.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 147,702 shares of the company’s stock after buying an additional 109,295 shares during the period. Morgan Stanley owned 0.16% of Mesoblast worth $784,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 2.67% of the company’s stock.
About Mesoblast (NASDAQ:MESO)
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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