In a report released today, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Mesoblast Ltd (NASDAQ: MESO), with a price target of $23. The company’s shares closed yesterday at $6.
Piros said:
“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 has 0 stars on 0-5 star ranking scale with an average return of -2.9% and a 49.2% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Mesoblast Ltd with a $17.50 average price target, a 191.7% upside from current levels. In a report issued on July 2, H.C. Wainwright also maintained a Buy rating on the stock with a $17 price target.
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The company has a one-year high of $7.85 and a one-year low of $4.74. Currently, Mesoblast Ltd has an average volume of 49.69K.
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Mesoblast Ltd. engages in the research, development, and market of pharmaceutical products. Its medicines target the cardiovascular conditions, 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.
