Mesoblast (NASDAQ:MESO) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Mesoblast (NASDAQ:MESO) released its quarterly earnings results on Wednesday. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.03, MarketWatch Earnings reports. Mesoblast had a negative net margin of 1,043.64% and a negative return on equity of 16.27%. The company had revenue of $2.14 million for the quarter, compared to analyst estimates of $2.00 million.

Mesoblast Trading Up 7.7 %

Shares of Mesoblast stock opened at $1.54 on Thursday. The stock has a market cap of $250.77 million, a P/E ratio of -2.42 and a beta of 3.21. The stock’s 50 day simple moving average is $3.11 and its 200-day simple moving average is $3.32. Mesoblast has a 1-year low of $1.16 and a 1-year high of $5.12. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.14 and a quick ratio of 1.14.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MESO. StockNews.com began coverage on shares of Mesoblast in a research report on Thursday, August 17th. They set a “sell” rating for the company. Cantor Fitzgerald reduced their price target on shares of Mesoblast from $23.00 to $17.00 in a research report on Thursday. Maxim Group cut Mesoblast from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Piper Sandler cut Mesoblast from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $7.00 to $2.00 in a report on Friday, August 4th. Finally, Jefferies Financial Group upgraded Mesoblast from a “hold” rating to a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.13.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vident Investment Advisory LLC boosted its position in shares of Mesoblast by 12.8% during the 4th quarter. Vident Investment Advisory LLC now owns 28,080 shares of the company’s stock valued at $82,000 after acquiring an additional 3,191 shares during the last quarter. EWA LLC acquired a new stake in Mesoblast in the first quarter valued at approximately $40,000. Envestnet Asset Management Inc. raised its holdings in Mesoblast by 99.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 26,008 shares of the company’s stock valued at $76,000 after acquiring an additional 12,954 shares in the last quarter. Wells Fargo & Company MN increased its position in Mesoblast by 55.0% during the second quarter. Wells Fargo & Company MN now owns 52,813 shares of the company’s stock worth $206,000 after buying an additional 18,747 shares during the period. Finally, Millennium Management LLC increased its position in Mesoblast by 132.6% during the second quarter. Millennium Management LLC now owns 42,690 shares of the company’s stock worth $95,000 after buying an additional 24,336 shares during the period. Institutional investors and hedge funds own 2.60% of the company’s stock.

Mesoblast Company Profile

Mesoblast Limited engages in the development of regenerative medicine products in Australia, the United States, Singapore, the United Kingdom, and Switzerland. The company offers products in the areas of cardiovascular, spine orthopedic disorder, oncology, hematology, and immune-mediated and inflammatory diseases.