Mesoblast Limited (NASDAQ:MESO) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Mesoblast Limited (NASDAQ:MESO) have received an average recommendation of “Buy” from the five analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, two have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $18.00.

MESO has been the subject of a number of research analyst reports. Jefferies Financial Group cut Mesoblast from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Canaccord Genuity Group upgraded Mesoblast to a “strong-buy” rating in a report on Tuesday, August 5th.

Mesoblast Stock Up 6.4%

Mesoblast stock opened at $14.39 on Tuesday. The firm has a 50 day simple moving average of $14.08 and a 200 day simple moving average of $12.80. The company has a current ratio of 1.99, a quick ratio of 0.63 and a debt-to-equity ratio of 0.11. Mesoblast has a 1-year low of $6.00 and a 1-year high of $22.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MESO. Bank of America Corp DE grew its position in shares of Mesoblast by 1,503.3% in the fourth quarter. Bank of America Corp DE now owns 290,728 shares of the company’s stock valued at $5,756,000 after purchasing an additional 272,595 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Mesoblast during the first quarter worth about $3,209,000. Summit X LLC boosted its stake in Mesoblast by 0.6% during the 2nd quarter. Summit X LLC now owns 199,295 shares of the company’s stock worth $2,170,000 after purchasing an additional 1,132 shares during the period. GAMMA Investing LLC grew its stake in shares of Mesoblast by 1,174.2% in the 1st quarter. GAMMA Investing LLC now owns 85,513 shares of the company’s stock valued at $1,067,000 after purchasing an additional 78,802 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in Mesoblast by 104.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 71,891 shares of the company’s stock valued at $897,000 after purchasing an additional 36,700 shares in the last quarter. Institutional investors and hedge funds own 1.43% of the company’s stock.

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.