Analyst Jason McCarthy from Maxim Group maintained a Buy rating on Mesoblast (MESO – Research Report) and keeping the price target at $30.00.
Jason McCarthy has given his Buy rating due to a combination of factors that highlight Mesoblast’s promising financial and market position. The company has recently announced the pricing for Ryoncil at approximately $1.55 million per treatment course, which is supported by health economic analyses suggesting a significant economic benefit. This positions Ryoncil as a strong market opportunity in pediatric steroid refractory acute graft vs. host disease (SR-aGvHD), with a total addressable market of around $600 million.
Additionally, Mesoblast has secured substantial funding, raising $161 million through a private placement, which should support the commercialization of Ryoncil in the US. The company is well-prepared for the upcoming launch, with a focused sales strategy targeting key centers and sufficient inventory to support sales. Furthermore, Mesoblast’s pipeline, including potential accelerated filing for Rexlemestrocel-L in Class IV heart failure, adds to the company’s valuation potential, reinforcing the Buy rating.
According to TipRanks, McCarthy is an analyst with an average return of -19.0% and a 24.65% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group, Mesoblast, and Alterity Therapeutics.