Cantor Fitzgerald Remains a Buy on Mesoblast Ltd

By Jason Carr

Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Mesoblast Ltd (NASDAQ: MESO) yesterday and set a price target of $23. The company’s shares closed yesterday at $5.92.

Piros observed:

“: We are reiterating our Overweight rating and 12-month price target of $23/ADR on Mesoblast following F3Q18 results. Mesoblast reviewed continued progress across its development pipeline and announced the appointment of new chief financial officer Josh Muntner. We are encouraged by Mr. Muntner’s significant transaction experience, which we believe could support future partnerships for Mesoblast’s pipeline assets with large commercial markets. On the data front, we await additional results from the Phase 3 GVHD study (Day 100 in an end-stage heart failure trial (C3Q18), which could become significant catalysts for the shares.”

According to, Piros is ranked 0 out of 5 stars with an average return of -3.4% and a 47.1% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.

Currently, the analyst consensus on Mesoblast Ltd is Strong Buy and the average price target is $14.60, representing a 146.6% upside.

In a report issued on May 29, Maxim Group also assigned a Buy rating to the stock with a $14 price target.

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Based on Mesoblast Ltd’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $13.72 million. In comparison, last year the company had a GAAP net loss of $9.85 million.

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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.