Maxim Group analyst Jason McCarthy assigned a Buy rating to Mesoblast (MESO) yesterday and set a price target of $16.00. The company’s shares closed last Wednesday at $11.43.
According to TipRanks.com, McCarthy is a top 100 analyst with an average return of 31.8% and a 52.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Brainstorm Cell Therapeutics, Lineage Cell Therapeutics, and Actinium Pharmaceuticals.
Mesoblast has an analyst consensus of Strong Buy, with a price target consensus of $18.05, representing a 54.7% upside. In a report issued on July 30, Dawson James also maintained a Buy rating on the stock with a $15.00 price target.
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Based on Mesoblast’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $12.08 million and GAAP net loss of $15.26 million. In comparison, last year the company earned revenue of $1.04 million and had a GAAP net loss of $24.97 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. The company was founded by Itescu Silviu on June 8, 2004 and is headquartered in Melbourne, Australia.
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