10 Best Long Term ASX Stocks to Buy Now

7) Mesoblast Limited (NASDAQ:MESO)

Number of Hedge Fund Holders: 3

Mesoblast Limited (NASDAQ:MESO) is a clinical-stage biotechnology company. Notably, the FDA approved Ryoncil® as the first and only therapy for pediatric patients 2 months and older, which includes adolescents and teenagers, with steroid-refractory acute graft versus host disease (SR-aGvHD), a life-threatening condition possessing high mortality rates. Piper Sandler analyst Edward Tenthoff upped Mesoblast Limited (NASDAQ:MESO)’s price target to $24 from $15, keeping an “Overweight” rating.

The company continues to work on finalizing product availability, which includes logistics, regulatory documentation, and contractual arrangements to ensure a successful rollout of Ryoncil® this quarter. The financing of US$160 million (A$260 million), providing Mesoblast Limited (NASDAQ:MESO) with proforma cash on hand of ~US$200 million (A$322 million), places it in a robust position to execute the US commercial launch activities of Ryoncil®. Furthermore, it will also help Mesoblast Limited (NASDAQ:MESO) to expand the clinical indications of the product and ensure that commercial manufacturing meets expected product uptake and demand.

The company possesses a healthy balance sheet to support Ryoncil® launch and product portfolio, with current revenue streams expected to expand based on Ryoncil® performance. Also, Mesoblast Limited (NASDAQ:MESO) has a long-term revenue potential from the current and future pipeline.