Piper Sandler Increases Mesoblast (NASDAQ:MESO) Price Target to $15.00

Mesoblast (NASDAQ:MESO) had its target price raised by investment analysts at Piper Sandler from $11.00 to $15.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential downside of 10.77% from the company’s previous close.

A number of other equities research analysts also recently commented on the stock. Maxim Group raised shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Tuesday, September 24th. StockNews.com cut Mesoblast from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Mesoblast in a research report on Thursday, August 29th. Finally, Jefferies Financial Group raised shares of Mesoblast from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Mesoblast has an average rating of “Moderate Buy” and a consensus price target of $13.50.

Mesoblast Stock Up 37.2 %

MESO stock traded up $4.56 during midday trading on Thursday, hitting $16.81. The company’s stock had a trading volume of 3,117,313 shares, compared to its average volume of 732,683. The firm’s 50-day moving average is $10.24 and its 200-day moving average is $8.17. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18. Mesoblast has a 12 month low of $1.61 and a 12 month high of $19.15.

Institutional Trading of Mesoblast

A number of large investors have recently added to or reduced their stakes in the company. Perkins Coie Trust Co lifted its holdings in shares of Mesoblast by 15.0% in the 3rd quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock valued at $94,000 after acquiring an additional 1,500 shares during the last quarter. Signaturefd LLC raised its position in Mesoblast by 128.7% during the third quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock valued at $45,000 after purchasing an additional 3,099 shares during the period. Lazari Capital Management Inc. lifted its stake in shares of Mesoblast by 6.6% in the 2nd quarter. Lazari Capital Management Inc. now owns 53,467 shares of the company’s stock valued at $364,000 after purchasing an additional 3,300 shares during the last quarter. Pine Valley Investments Ltd Liability Co purchased a new position in shares of Mesoblast in the 2nd quarter worth approximately $80,000. Finally, Rathbones Group PLC bought a new stake in Mesoblast in the second quarter worth $95,000. Institutional investors own 1.43% of the company’s stock.

About Mesoblast

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.