Mesoblast Ltd. (NASDAQ:MESO) Receives $8.63 Average Price Target from Analysts
Mesoblast Ltd. (NASDAQ:MESO) has earned a consensus rating of “Buy” from the six brokerages that are presently covering the stock. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $8.63.
A number of equities research analysts have recently weighed in on the company. Credit Suisse Group AG downgraded Mesoblast from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $10.00 to $5.00 in a report on Tuesday, June 14th. Zacks Investment Research upgraded Mesoblast from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a report on Friday, September 2nd. Finally, Maxim Group reiterated a “buy” rating and issued a $14.00 price target on shares of Mesoblast in a report on Wednesday, July 6th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. raised its position in Mesoblast by 659,900.0% in the second quarter. Citigroup Inc. now owns 33,000 shares of the company’s stock worth $131,000 after buying an additional 32,995 shares in the last quarter. OLD Mission Capital LLC bought a new position in Mesoblast during the first quarter worth about $431,000. Princeton Capital Management Inc. raised its position in Mesoblast by 135.4% in the second quarter. Princeton Capital Management Inc. now owns 109,382 shares of the company’s stock worth $433,000 after buying an additional 62,915 shares in the last quarter. Finally, Prudential PLC raised its position in Mesoblast by 2.0% in the first quarter. Prudential PLC now owns 1,538,629 shares of the company’s stock worth $14,802,000 after buying an additional 29,597 shares in the last quarter. Institutional investors and hedge funds own 3.41% of the company’s stock.
Mesoblast (NASDAQ:MESO) opened at 4.44 on Wednesday. The stock’s market cap is $335.55 million. The firm has a 50-day moving average price of $4.74 and a 200 day moving average price of $6.03. Mesoblast has a 52-week low of $3.50 and a 52-week high of $13.00.
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