Canaccord Genuity Initiates Coverage of Mesoblast Limited (MESO) with Buy Rating

Mesoblast Limited (NASDAQ:MESO) is among the 12 Best Australian Stocks to Buy Right Now. On August 5, Canaccord Genuity initiated coverage of the stock with a Buy rating and announced a price target of AUD 2.97 ($1.94) per share, with analyst Elyse Shapiro citing the company’s promising cell therapy platform.

Canaccord Genuity Initiates Coverage of Mesoblast Limited (MESO) with Buy Rating

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The firm acknowledged Mesoblast Limited (NASDAQ:MESO)’s expertise in allogeneic therapies for severe inflammatory diseases, which use cells from a single donor, instead of requiring cells from the recipient or matched donors. Canaccord also highlighted the company’s progenitor cell and mesenchymal stromal cell approach that reduces harmful inflammation by modulating the immune system.

In other recent news, on July 17, Mesoblast Limited (NASDAQ:MESO) announced USD 13.2 million in gross revenue from Ryoncil sales post-launch. The drug is the first and only mesenchymal stromal cell product in the U.S. that is approved by the FDA. It became commercially available on March 28, 2025, for the treatment of steroid-refractory acute graft-versus-host disease in children.

Mesoblast Limited (NASDAQ:MESO) is an Australian company focused on developing allogeneic cellular medicines to treat severe and life-threatening inflammatory conditions.

While we acknowledge the risk and potential of MESO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MESO and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.