Brokerages Set Mesoblast Limited (NASDAQ:MESO) Target Price at $13.67

Shares of Mesoblast Limited (NASDAQ:MESO) have been assigned a consensus recommendation of “Hold” from the six analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $13.67.

A number of brokerages have issued reports on MESO. StockNews.com lowered shares of Mesoblast from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Mesoblast in a research note on Thursday, June 20th.

Mesoblast Stock Down 0.6 %

MESO opened at $6.81 on Wednesday. The company has a market cap of $777.57 million, a P/E ratio of -6.08 and a beta of 3.46. The firm’s 50-day moving average price is $7.23 and its 200-day moving average price is $4.27. Mesoblast has a 52-week low of $1.61 and a 52-week high of $10.24.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mesoblast stock. Chase Investment Counsel Corp purchased a new position in shares of Mesoblast Limited (NASDAQ:MESO) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 59,600 shares of the company’s stock, valued at approximately $298,000. Chase Investment Counsel Corp owned 0.05% of Mesoblast as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.