Mesoblast (MESO) PT Set at $14.00 by Maxim Group
Mesoblast (NASDAQ:MESO) has been given a $14.00 target price by equities research analysts at Maxim Group in a research report issued to clients and investors on Monday. The firm currently has a “buy” rating on the stock. Maxim Group’s price objective indicates a potential upside of 144.76% from the company’s previous close.
The analysts wrote, “Mesoblast announced that TiGenix paid to license IP. We view this early decision by Belgium-based TiGenix (TIG – NR) as an indication of the strength of Mesoblast’s IP estate. As a result, Mesoblast gives TiGenix freedom to operate (global commercialization) for the company’s adipose stem cell product Cx601,” for the local treatment of fistulae. Mesoblast will receive up to €20 million (approximately USD$24 million) in payments, with €5 million upfront, €5 million within 12 months, and up to €10 million in product regulatory milestones. Additionally, Mesoblast will receive single digit royalties on net sales of Cx601.””
Several other equities analysts have also recently issued reports on the company. Oppenheimer started coverage on Mesoblast in a research report on Thursday, August 31st. They set an “outperform” rating and a $16.00 price target on the stock. CIBC started coverage on Mesoblast in a research report on Thursday, August 31st. They set an “outperform” rating and a $16.00 price target on the stock. Zacks Investment Research cut Mesoblast from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 16th. Cantor Fitzgerald reiterated a “buy” rating and set a $20.00 price target on shares of Mesoblast in a research report on Wednesday, August 30th. Finally, ValuEngine cut Mesoblast from a “hold” rating to a “sell” rating in a report on Friday, September 15th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Mesoblast presently has an average rating of “Hold” and a consensus price target of $13.14.
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