Cantor Fitzgerald analyst Elemer Piros maintained a Buy rating on Mesoblast Ltd (MESO) yesterday and set a price target of $23. The company’s shares closed on Friday at $7.58.
Piros observed:
“We rate Mesoblast Overweight. We believe the company’s platform of mesenchymal lineage cell (MLC) therapies has the potential to treat an array of diseases with currently significant unmet needs. Valuation Summary We arrive at our 12-month price target of $23/share by assessing the after-tax, risk- adjusted NPV of future cash flows from Mesoblast’s MLC platform. The probability- adjusted, fully taxed NPV (15% discount rate) of future cash flows through 2030 is $2.3 billion (~$23 per ADR), in our calculation.”
According to TipRanks.com, Piros ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.9% and a 38.3% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Proteostasis Therapeutics Inc, and Strongbridge Biopharma Plc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Mesoblast Ltd with a $18 average price target, representing a 137.5% upside. In a report issued on November 9, Maxim Group also maintained a Buy rating on the stock with a $16 price target.
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Based on Mesoblast Ltd’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $20.66 million. In comparison, last year the company had a GAAP net loss of $7.05 million.
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Mesoblast Ltd. is a biopharmaceutical company, which engages in the research, development, and market of mesenchymal lineage adult stem cell technology platform. Its medicines target the cardiovascular diseases, spine orthopedic disorders, oncology and hematology, immune-mediated, and inflammatory diseases.
