Mesoblast Ltd. (NASDAQ:MESO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm currently has a $5.25 target price on the stock. Zacks Investment Research’s price target would suggest a potential upside of 13.39% from the company’s previous close.

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. “

Mesoblast (NASDAQ:MESO) opened at 4.63 on Wednesday. Mesoblast has a 12-month low of $3.50 and a 12-month high of $10.89. The stock has a 50 day moving average of $0.00 and a 200-day moving average of $0.00.

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A number of large investors have recently modified their holdings of MESO. Penbrook Management LLC bought a new stake in shares of Mesoblast during the third quarter valued at approximately $134,000. Citigroup Inc. raised its stake 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 during the last quarter. Finally, Princeton Capital Management Inc. raised its stake 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 during the last quarter. 3.25% of the stock is owned by institutional investors.

Mesoblast Company Profile

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