Maxim Group Reaffirms “Buy” Rating for Mesoblast (MESO)
Mesoblast (NASDAQ:MESO)‘s stock had its “buy” rating reiterated by Maxim Group in a research note issued to investors on Wednesday. They presently have a $14.00 price target on the stock. Maxim Group’s price objective points to a potential upside of 154.55% from the stock’s previous close.
The analysts wrote, “Mesoblast reported changes to its cash position for the December quarter (FY: June 30), with a net cash outflow from operations of just $14M; this includes a €5M upfront payment from TiGenix (TIG.O – NR). Mesoblast ended the period with $47M in cash and has a $90M equity facility in place.””
A number of other research firms have also recently commented on MESO. Cantor Fitzgerald set a $20.00 price target on shares of Mesoblast and gave the stock a “buy” rating in a report on Tuesday, January 16th. Zacks Investment Research cut shares of Mesoblast from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, Oppenheimer set a $16.00 price target on shares of Mesoblast and gave the stock a “buy” rating in a report on Wednesday, December 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $13.11.
Mesoblast (NASDAQ:MESO) last posted its quarterly earnings results on Tuesday, November 14th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.15. Mesoblast had a negative net margin of 2,006.86% and a negative return on equity of 12.04%. equities analysts predict that Mesoblast will post -0.91 earnings per share for the current year.
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Mesoblast Limited is engaged in developing cell-based medicines. The Company has leveraged its technology platform, which is based on specialized cells known as mesenchymal lineage adult stem cells, to establish a portfolio of late-stage product candidates. Its 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.
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