Mesoblast (NASDAQ:MESO) Upgraded to “Overweight” at Piper Sandler

Piper Sandler upgraded shares of Mesoblast (NASDAQ:MESO) from a neutral rating to an overweight rating in a report released on Tuesday, MarketBeat Ratings reports. Piper Sandler currently has $11.00 price target on the stock, up from their previous price target of $4.00.

Several other analysts have also commented on MESO. StockNews.com lowered Mesoblast from a hold rating to a sell rating in a research note on Wednesday, May 8th. Cantor Fitzgerald restated an overweight rating on shares of Mesoblast in a research report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $16.00.

Mesoblast Stock Performance

Shares of NASDAQ:MESO traded down $0.30 during trading on Tuesday, hitting $7.97. 175,628 shares of the stock were exchanged, compared to its average volume of 1,110,550. Mesoblast has a 1-year low of $1.61 and a 1-year high of $8.72. The company has a market capitalization of $910.01 million, a price-to-earnings ratio of -6.93 and a beta of 3.48. The company’s fifty day simple moving average is $7.38 and its 200-day simple moving average is $4.93.

Institutional Investors Weigh In On Mesoblast

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MESO. Chase Investment Counsel Corp bought a new stake in Mesoblast in the first quarter valued at about $298,000. GAMMA Investing LLC grew its stake in Mesoblast by 50.1% in the second quarter. GAMMA Investing LLC now owns 4,981 shares of the company’s stock valued at $34,000 after acquiring an additional 1,663 shares during the period. Perkins Coie Trust Co acquired a new position in Mesoblast in the second quarter valued at about $68,000. Finally, Chapin Davis Inc. grew its stake in Mesoblast by 50.0% in the second quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock valued at $102,000 after acquiring an additional 5,000 shares during the period. 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.