Mesoblast Ltd. (NASDAQ:MESO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Mesoblast Limited is a global leader in developing innovative cell-based medicines. The Company has leveraged its proprietary technology platform, which is based on specialized cells known as mesenchymal lineage adult stem cells, to establish a broad portfolio of late-stage product candidates. Mesoblast’s allogeneic, ‘off-the-shelf’ cell product candidates target advanced stages of diseases with high, unmet medical needs including cardiovascular conditions, orthopedic disorders, immunologic and inflammatory disorders and oncologic/hematologic conditions. “

Separately, Maxim Group reissued a “buy” rating and set a $14.00 price target on shares of Mesoblast in a report on Wednesday, July 6th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $8.00.

Analyst Recommendations for Mesoblast (NASDAQ:MESO)

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Mesoblast (NASDAQ:MESO) opened at 4.18 on Wednesday. Mesoblast has a 12-month low of $3.50 and a 12-month high of $13.00. The stock has a 50 day moving average price of $4.53 and a 200-day moving average price of $5.75. The company’s market cap is $315.90 million.

Large investors have recently bought and sold shares of the company. Citigroup Inc. raised its stake in Mesoblast by 659,900.0% in the second quarter. Citigroup Inc. now owns 33,000 shares of the company’s stock valued at $131,000 after buying an additional 32,995 shares during the period. Princeton Capital Management Inc. raised its stake in Mesoblast by 135.4% in the second quarter. Princeton Capital Management Inc. now owns 109,382 shares of the company’s stock valued at $433,000 after buying an additional 62,915 shares during the period. OLD Mission Capital LLC bought a new stake in Mesoblast during the first quarter valued at approximately $431,000. Finally, Prudential PLC raised its stake in Mesoblast by 2.0% in the first quarter. Prudential PLC now owns 1,538,629 shares of the company’s stock valued at $14,802,000 after buying an additional 29,597 shares during the period. Hedge funds and other institutional investors own 3.41% of the company’s stock.

Mesoblast Company Profile

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