Maxim Group analyst Jason McCarthy maintained a Buy rating on Mesoblast Ltd (MESO) today and set a price target of $16. The company’s shares closed yesterday at $4.26.
McCarthy noted:
“Mesoblast reported F2Q19 (June in revenue (TEMCELL) and net loss of ($24.6M). The company ended the period with a pro forma cash balance of $92M (includes $15M draw on Hercules credit facility in January). In addition, MESO still has $90M on the ATM.”
According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -4.3% and a 33.2% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Aridis Pharmaceuticals Inc, and Adial Pharmaceuticals Inc.
Currently, the analyst consensus on Mesoblast Ltd is a Strong Buy with an average price target of $14.88, a 249.3% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $23 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $8.78 and a one-year low of $3.35. Currently, Mesoblast Ltd has an average volume of 44.09K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
