Zacks Investment Research Downgrades Mesoblast (NASDAQ:MESO) to Hold

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Mesoblast (NASDAQ:MESO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Zacks.com reports.

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. “

Several other research analysts also recently commented on MESO. ValuEngine upgraded Mesoblast from a “buy” rating to a “strong-buy” rating in a report on Monday, September 16th. Oppenheimer set a $10.00 price objective on Mesoblast and gave the stock a “buy” rating in a report on Tuesday, September 10th. 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. Finally, Maxim Group restated a “buy” rating and set a $16.00 price objective on shares of Mesoblast in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $11.63.

MESO opened at $5.99 on Friday. The stock’s fifty day moving average is $6.15 and its two-hundred day moving average is $5.44. The company has a market capitalization of $619.32 million, a P/E ratio of -6.58 and a beta of 1.78. Mesoblast has a 52 week low of $3.35 and a 52 week high of $8.15. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.14.

Mesoblast (NASDAQ:MESO) last released its quarterly earnings data on Thursday, August 29th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.02. The company had revenue of $1.97 million for 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%. Equities analysts anticipate that Mesoblast will post -0.62 earnings per share for the current year.

A hedge fund recently raised its stake in Mesoblast stock. Morgan Stanley boosted its stake in Mesoblast limited (NASDAQ:MESO) by 284.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,702 shares of the company’s stock after purchasing an additional 109,295 shares during the period. Morgan Stanley owned about 0.16% of Mesoblast worth $784,000 at the end of the most recent reporting period. 2.60% of the stock is currently owned by institutional investors.

About Mesoblast

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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