Mesoblast (NASDAQ:MESO) Stock Price Up 13.6% – Still a Buy?

Shares of Mesoblast Limited (NASDAQ:MESO) shot up 13.6% during mid-day trading on Friday . The stock traded as high as $11.98 and last traded at $11.79. 53,600 shares were traded during trading, a decline of 93% from the average session volume of 724,829 shares. The stock had previously closed at $10.38.

Analysts Set New Price Targets

Several equities analysts have recently commented on MESO shares. Maxim Group raised Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, September 24th. Jefferies Financial Group raised shares of Mesoblast from a “hold” rating to a “buy” rating in a research note on Thursday, August 29th. StockNews.com lowered shares of Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Mesoblast in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.50.

Mesoblast Stock Up 12.7 %

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average price is $10.06 and its 200 day moving average price is $8.05.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Chapin Davis Inc. grew its position in shares of Mesoblast by 50.0% during the second quarter. Chapin Davis Inc. now owns 15,000 shares of the company’s stock worth $102,000 after buying an additional 5,000 shares in the last quarter. Pine Valley Investments Ltd Liability Co purchased a new stake in shares of Mesoblast in the 2nd quarter valued at approximately $80,000. Rathbones Group PLC purchased a new stake in shares of Mesoblast during the 2nd quarter worth $95,000. XTX Topco Ltd acquired a new position in shares of Mesoblast during the second quarter worth $103,000. Finally, Marshall Wace LLP purchased a new position in Mesoblast in the second quarter valued at $562,000. 1.43% of the stock is owned by institutional investors and hedge funds.

About Mesoblast

Mesoblast Limited engages in the development of regenerative medicine products in Australia, the United States, Singapore, and Switzerland. The company offers products in the areas of cardiovascular, spine orthopedic disorder, oncology, hematology, and immune-mediated and inflammatory diseases. Its proprietary regenerative medicine technology platform is based on specialized cells known as mesenchymal lineage cells.