Maxim Group analyst Jason McCarthy maintained a Buy rating on Mesoblast yesterday and set a price target of $30.00.
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Jason McCarthy has given his Buy rating due to a combination of factors including the promising launch of Ryoncil for pediatric steroid-refractory acute graft versus host disease (SR-aGvHD), which has shown strong initial sales figures. The company has successfully onboarded numerous transplant centers, which is expected to significantly increase patient access and drive future revenue growth. Additionally, Mesoblast is expanding Ryoncil’s application to adult SR-aGvHD and medically-refractory inflammatory bowel disease, with pivotal studies planned, potentially broadening its market reach.
Furthermore, Mesoblast’s strategic financial moves, such as the convertible note subscription agreement, provide the company with the necessary capital to repay debt and fund operations. The positive feedback from the FDA regarding rexlemestrocel for chronic heart failure also adds to the company’s growth potential. These strategic initiatives and the strong market performance of Ryoncil underpin McCarthy’s optimistic outlook and Buy rating for Mesoblast.
McCarthy covers the Healthcare sector, focusing on stocks such as OS Therapies Incorporated, Capricor Therapeutics, and Brainstorm Cell Therapeutics. According to TipRanks, McCarthy has an average return of -19.1% and a 32.40% success rate on recommended stocks.
In another report released on August 29, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $0.00 price target.