Mesoblast (MESO) Raised to Buy at Zacks Investment Research

Mesoblast (NASDAQ:MESO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The brokerage currently has a $6.25 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 6.11% from the stock’s previous close.

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. “

A number of other research analysts have also recently weighed in on the company. Maxim Group set a $14.00 target price on Mesoblast and gave the company a “buy” rating in a report on Monday, December 18th. Oppenheimer set a $16.00 target price on Mesoblast and gave the company a “buy” rating in a report on Tuesday, November 14th. Finally, ValuEngine lowered Mesoblast from a “hold” rating to a “sell” rating in a research report on Friday, September 15th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Mesoblast presently has a consensus rating of “Hold” and a consensus price target of $13.11.

Shares of Mesoblast (NASDAQ MESO) traded up $0.25 during trading on Friday, reaching $5.89. The company had a trading volume of 91,054 shares, compared to its average volume of 52,835. Mesoblast has a 52-week low of $4.80 and a 52-week high of $12.50. The firm has a market capitalization of $483.04, a PE ratio of -7.55 and a beta of 2.68.

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