Zacks Investment Research upgraded shares of Mesoblast (NASDAQ:MESO) from a hold rating to a buy rating in a research report released on Tuesday, reports. Zacks Investment Research currently has $8.00 price objective on the stock.

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. “

Other research analysts also recently issued reports about the company. HC Wainwright set a $7.00 price objective on Mesoblast and gave the stock a buy rating in a report on Friday, August 30th. Chardan Capital set a $6.00 price objective on Mesoblast and gave the stock a hold rating in a report on Friday, August 30th. ValuEngine upgraded Mesoblast from a buy rating to a strong-buy rating in a report on Monday. Maxim Group reiterated a buy rating and set a $16.00 price objective on shares of Mesoblast in a report on Thursday, September 12th. Finally, Cantor Fitzgerald set a $23.00 price objective on Mesoblast and gave the stock a buy rating in a report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Mesoblast presently has an average rating of Buy and a consensus target price of $11.67.

NASDAQ:MESO opened at $6.86 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market cap of $736.01 million, a PE ratio of -7.53 and a beta of 1.77. Mesoblast has a 52-week low of $3.35 and a 52-week high of $8.78. The stock has a 50-day simple moving average of $5.33 and a 200 day simple moving average of $5.18.

Mesoblast (NASDAQ:MESO) last posted its quarterly earnings data on Thursday, August 29th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.02. The business had revenue of $1.97 million during the quarter, compared to the consensus estimate of $1.31 million. Mesoblast had a negative return on equity of 17.66% and a negative net margin of 536.97%. On average, research analysts predict that Mesoblast will post -0.72 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Mesoblast stock. Morgan Stanley boosted its stake in shares of Mesoblast limited (NASDAQ:MESO) by 284.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 147,702 shares of the company’s stock after purchasing an additional 109,295 shares during the period. Morgan Stanley owned 0.16% of Mesoblast worth $784,000 as of its most recent filing with the SEC. 2.76% of the stock is currently owned by hedge funds and other institutional investors.

Mesoblast Company Profile

Mesoblast Limited, a biopharmaceutical company, develops and commercializes allogeneic cellular medicines. Its proprietary regenerative medicine technology platform is based on specialized cells known as mesenchymal lineage adult stem cells. The company's products under the Phase III clinical trials include MSC-100-IV for steroid refractory acute graft versus host disease; MPC-150-IM for advanced heart failure; and MPC-06-ID for chronic low back pain due to degenerative disc disease.

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