Mesoblast (NASDAQ:MESO) Sets New 52-Week High – Should You Buy?

Shares of Mesoblast Limited (NASDAQ:MESO) hit a new 52-week high on Monday . The company traded as high as $20.97 and last traded at $20.75, with a volume of 322856 shares changing hands. The stock had previously closed at $17.53.

Wall Street Analysts Forecast Growth

MESO has been the subject of a number of research analyst reports. Piper Sandler boosted their price target on Mesoblast from $11.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Jefferies Financial Group cut shares of Mesoblast from a “buy” rating to a “hold” rating in a report on Monday, December 23rd. StockNews.com lowered shares of Mesoblast from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Finally, Maxim Group raised shares of Mesoblast from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Mesoblast has a consensus rating of “Hold” and an average price target of $13.50.

Mesoblast Trading Up 23.3 %

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a 50 day moving average price of $11.24 and a 200 day moving average price of $8.66.

Institutional Investors Weigh In On Mesoblast

Several hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC raised its stake in shares of Mesoblast by 46.4% during the third quarter. Jane Street Group LLC now owns 85,102 shares of the company’s stock valued at $695,000 after acquiring an additional 26,959 shares during the last quarter. XY Capital Ltd acquired a new stake in Mesoblast in the third quarter valued at $244,000. Signaturefd LLC raised its position in Mesoblast by 128.7% during the 3rd quarter. Signaturefd LLC now owns 5,506 shares of the company’s stock worth $45,000 after purchasing an additional 3,099 shares during the last quarter. Creative Planning bought a new stake in shares of Mesoblast in the 3rd quarter valued at about $147,000. Finally, Perkins Coie Trust Co increased its stake in shares of Mesoblast by 15.0% in the third quarter. Perkins Coie Trust Co now owns 11,500 shares of the company’s stock valued at $94,000 after buying an additional 1,500 shares during the period. 1.43% of the stock is currently 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.