Mesoblast (NASDAQ:MESO)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research note issued to investors on Friday.
The analysts wrote, “We maintain our Buy rating of MESO with a 12-month price target of $6.50 per diluted share. We derive our price target based on an NPV analysis of projected product revenues through FY2030. We assume a 12.2% discount rate, formulated by our calculation of Mesoblast’s weighted average cost of capital, and 3% terminal growth rate. We derive an NPV of $1.1B and add in pro forma net cash of $28.5M to arrive at a 12-month price target of $6.62, which we round to $6.50. (1) commercial; (2) partnership; (3) clinical; (4) financial; and (5) intellectual property.””
A number of other research analysts have also recently commented on MESO. Zacks Investment Research cut shares of Mesoblast from a “buy” rating to a “hold” rating in a report on Wednesday, October 31st. Cantor Fitzgerald set a $23.00 target price on shares of Mesoblast and gave the stock a “buy” rating in a report on Sunday, November 11th. Oppenheimer set a $15.00 target price on shares of Mesoblast and gave the stock a “buy” rating in a report on Monday, November 12th. Maxim Group reissued a “buy” rating and issued a $16.00 target price on shares of Mesoblast in a report on Monday, November 12th. Finally, TheStreet lowered shares of Mesoblast from a “c-” rating to a “d+” rating in a report on Monday, December 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $11.92.
Mesoblast (NASDAQ:MESO) last posted its earnings results on Wednesday, February 20th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). The company had revenue of $1.87 million during the quarter, compared to the consensus estimate of $6.36 million. Mesoblast had a negative return on equity of 15.84% and a negative net margin of 528.80%. As a group, analysts anticipate that Mesoblast will post -0.93 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital World Investors bought a new position in Mesoblast in the 3rd quarter valued at approximately $3,695,000. Penbrook Management LLC raised its holdings in Mesoblast by 6.2% during the 4th quarter. Penbrook Management LLC now owns 240,900 shares of the company’s stock worth $993,000 after purchasing an additional 14,000 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Mesoblast by 249.8% during the 3rd quarter. Renaissance Technologies LLC now owns 165,161 shares of the company’s stock worth $1,348,000 after purchasing an additional 117,951 shares during the last quarter. Jane Street Group LLC raised its holdings in Mesoblast by 590.9% during the 4th quarter. Jane Street Group LLC now owns 104,073 shares of the company’s stock worth $426,000 after purchasing an additional 89,010 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in Mesoblast during the 3rd quarter worth approximately $215,000. Institutional investors and hedge funds own 3.01% of the company’s stock.
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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