Investors in biopharmaceutical company Mesoblast (MESO) are celebrating today as its shares are rocketing higher. The stock is trading for $21.09 as of this writing, marking a new 52-week high for the shares. Investors will note this comes on the back of a 20.31% rally today, with shares also up 711.57% over the past year.
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Today’s movement comes with increased interest in MESO stock and heavy trading of the biopharmaceutical company’s shares. This has more than 923,000 shares changing hands as of this writing. For comparison, the stock’s three-month daily average trading volume is below that at about 320,000 shares.
Will MESO Continue Its Winning Streak into 2025?
Looking at the longer history of Mesoblast stock, the company’s shares haven’t surpassed their previous all-time high of $38.72 reached in August 2020. There’s an argument here that it’s heading for this value considering its recent gains. While the stock suffered a drop in August 2023 that caused it to hit a new low of $1.78 in January 2024, momentum has been largely positive since then.
One thing worth noting about Mesoblast is the lack of news surrounding its shares today. This could be a sign that meme traders have taken an interest in the company. If that’s the case, it could make it a volatile stock in the coming days. This also means it might be best for risk-averse investors to avoid the shares.
Is MESO Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Mesoblast is Strong Buy based on two Buy ratings over the last three months. With that comes an average price target of $22.50, a high of $30, and a low of $15. This represents a potential 5.88% upside for MESO shares.
