In a report released yesterday, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Mesoblast Ltd (MESO), with a price target of $23. The company’s shares closed yesterday at $4.26.
Piros wrote:
“: We are reiterating our Overweight rating and 12-month price target of $23/ADR on Mesoblast following 2Q19 earnings. Mesoblast has a number of regulatory catalysts ahead, including FDA meetings ahead of the BLA submission for Remestemcel-L for acute graft versus host disease (April), and a discussion of a regulatory pathway for Revascor in end-stage heart failure (1H19). Our near-term focus remains on MESO’s building a commercial team ahead of a potential Remestemcel-L approval and full Phase 3 Revascor results, which could occur in the next 12 months.”
According to TipRanks.com, Piros ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -9.2% and a 38.7% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Proteostasis Therapeutics Inc.
Mesoblast Ltd has an analyst consensus of Strong Buy, with a price target consensus of $15.13.
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Based on Mesoblast Ltd’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $19.46 million. In comparison, last year the company had a net profit of $13.72 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.
