Maxim Group Sticks to Their Buy Rating for Mesoblast Ltd (MESO)

By Jason Carr

In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Mesoblast Ltd (MESOResearch Report), with a price target of $16. The company’s shares opened today at $5.17.

McCarthy observed:

“Mesoblast announced that it has expanded its collaboration with TEMCELL (AKA remestemcel-L ex-Japan) commercialization partner JCR Pharmaceuticals (4552 – NR) for a second time, with the addition of neonatal hypoxic ischemic encephalopathy (HIE).”

According to, McCarthy is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -20.3% and a 21.3% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.

Currently, the analyst consensus on Mesoblast Ltd is a Strong Buy with an average price target of $9.33, which is an 80.3% upside from current levels. In a report issued on June 5, H.C. Wainwright also initiated coverage with a Buy rating on the stock with a $6.50 price target.

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Based on Mesoblast Ltd’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $25.13 million. In comparison, last year the company had a GAAP net loss of $21.11 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.