Cantor Fitzgerald Reiterates “Buy” Rating for Mesoblast Limited (MESO)
Mesoblast Limited (NASDAQ:MESO)‘s stock had its “buy” rating restated by stock analysts at Cantor Fitzgerald in a report released on Wednesday. They currently have a $20.00 target price on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 238.41% from the company’s previous close.
The analysts wrote, “Accelerating Chronic Heart Failure (CHF). Mesoblast recently outlined its plans to seek a potential accelerated approval pathway for its MPC-150-IM product in patients with advanced cardiac heart failure. Based on the significant unmet need and serious complications of the disease, the company believes its 159-patient Phase 2b study with end-stage (Class IV) CHF patients that require left ventricular device (LVAD) assistance could support an accelerated approval. Completion of enrollment is imminent, and top-line data from the study are expected in 1Q18. The primary endpoint of the study will assess the number of times patients are able to undergo weaning off LVAD assistance. Enrolling in Advanced CHF. Mesoblast is also conducting a large 600-patient Phase 3 study in advanced (Class II/III) CHF patients that could serve as a confirmatory study and has enrolled over 400 patients so far. This study will assess recurrent, non-fatal, HF-related major adverse cardiac events between MPC-treated and sham-treated patients. Data are expected to be released in 2019. Attractive Markets. We estimate a large, multi-billion-dollar market for Mesoblast’s cell portfolio (combined royalties of ~$6 billion) when it reaches peak market penetration.””
Other equities research analysts have also issued reports about the stock. Maxim Group set a $14.00 target price on shares of Mesoblast Limited and gave the company a “buy” rating in a research note on Wednesday, August 16th. BidaskClub lowered shares of Mesoblast Limited from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Credit Suisse Group set a $11.00 target price on shares of Mesoblast Limited and gave the company a “hold” rating in a research note on Tuesday, July 18th. Finally, Zacks Investment Research upgraded shares of Mesoblast Limited from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Mesoblast Limited presently has a consensus rating of “Hold” and an average price target of $13.64.
Mesoblast Limited (NASDAQ MESO) opened at 5.91 on Wednesday. Mesoblast Limited has a one year low of $4.01 and a one year high of $12.50. The company’s market capitalization is $501.66 million. The firm’s 50-day moving average price is $7.03 and its 200 day moving average price is $8.25.
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An institutional investor recently raised its position in Mesoblast Limited stock. Princeton Capital Management Inc. increased its stake in Mesoblast Limited (NASDAQ:MESO) by 15.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 155,700 shares of the company’s stock after buying an additional 20,945 shares during the period. Princeton Capital Management Inc. owned approximately 0.20% of Mesoblast Limited worth $1,398,000 at the end of the most recent quarter. 2.95% of the stock is currently owned by institutional investors.
Mesoblast Limited Company Profile
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