Oppenheimer Maintains a Buy Rating on Mesoblast Ltd (MESO)

In a report released today, Mark Breidenbach from Oppenheimer maintained a Buy rating on Mesoblast Ltd (MESO), with a price target of $15. The company’s shares opened today at $5.97.

Breidenbach noted:

“Sunday, at the AHA Scientific Sessions, top line data were presented from a 159- patient randomized NIH-sponsored trial testing the ability of MPC-150-IM to improve outcomes in end-stage (Class IV) heart failure (HF). The study did not meet its primary endpoint, weans from a left ventricular assistance devices (LVADs) over six months, but MPC-150-IM significantly reduced the incidence of major GI bleeds, which represents a tangible clinical benefit. Management sees an opportunity to file for registration with these results, but given the modest commercial opportunity in LVAD-dependent HF, successful commercialization represents potential upside to our thesis. In our view, the trial missed a golden opportunity to provide de-risking biomarker data applicable to the ongoing DREAM-HF trial in Class II-III HF. Reiterate Outperform, PT to $15 (previously $16).”

According to TipRanks.com, Breidenbach is a 3-star analyst with an average return of 2.7% and a 38.4% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Alpine Immune Sciences Inc, Global Blood Therapeutics, and Sorrento Therapeutics.

Currently, the analyst consensus on Mesoblast Ltd is a Strong Buy with an average price target of $18, a 201.5% upside from current levels. 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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The company has a one-year high of $8.78 and a one-year low of $4.74. Currently, Mesoblast Ltd has an average volume of 82.11K.

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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.