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Mesoblast Limited Up 2.46% To $3.33 After Earnings Beat

Wednesday, November 23, 2022 02:28 PM | InvestorsObserver Analysts

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Mesoblast Limited Up 2.46% To $3.33 After Earnings Beat

Mesoblast Limited (MESO) said after close Tuesday that it lost $0.12 per share in quarter one 2023.

On the revenue line, the company reported $1.5 million, missing estimates by $2 million.

In the same quarter a year ago, the company lost $0.17 per share on revenue of $3.6 million.

The stock is up 2.46% to $3.33 after the report.

Mesoblast Limited's revenues declined at a faster pace than earnings.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Mesoblast Limited a Bullish Sentiment Rank from InvestorsObserver.

Mesoblast Limited has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 75, putting Mesoblast Limited in the top 25% of stocks. The firm set a 52-week low on June 30, 2022 at $2.14 and set a 52-week high on November 23, 2021 at $6.92.

Mesoblast Ltd is a clinical-stage biotechnology company. It develops and commercializes innovative allogeneic cellular medicines to treat complex diseases resistant to the conventional standard of care. Its portfolio of Phase 3 product candidates comprises remestemcel-L for the treatment of steroid-refractory acute graft versus host disease (SR-aGVHD), and for moderate to severe acute respiratory distress syndrome (ARDS) and others.

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