Maxim Group Keeps Their Buy Rating on Mesoblast Ltd

By Carrie Williams

Maxim Group analyst Jason McCarthy reiterated a Buy rating on Mesoblast Ltd (NASDAQ: MESO) today and set a price target of $14. The company’s shares closed yesterday at $6.39.

McCarthy noted:

“Mesoblast reported year-end (FYE June 30) with a net loss of $77M and ended the period with $46M in cash. The company completed a $40M raise on August 29, 2017 and currently has $84M in cash on the balance sheet.”

According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -8.7% and a 32.0% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as ImmunoCellular Therapeutics, Mateon Therapeutics Inc, and Soleno Therapeutics Inc.

Currently, the analyst consensus on Mesoblast Ltd is Moderate Buy and the average price target is $12.50, representing a 95.6% upside.

In a report issued on August 16, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $20 price target.

Mesoblast Ltd’s market cap is currently $546.9M and has a P/E ratio of 463.04. The company has a book value ratio of 1.0121.

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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.