Mersana Therapeutics, Inc. (NASDAQ:MRSN) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $6.29.

A number of analysts have issued reports on the stock. Truist Financial raised shares of Mersana Therapeutics from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Thursday, February 29th. Guggenheim raised shares of Mersana Therapeutics from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Thursday, February 29th. BTIG Research raised shares of Mersana Therapeutics from a “neutral” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Thursday, February 29th. Wedbush raised shares of Mersana Therapeutics from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $2.00 to $7.00 in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. raised shares of Mersana Therapeutics from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a report on Tuesday, March 19th.

Mersana Therapeutics Stock Up 1.9 %

Mersana Therapeutics stock opened at $3.21 on Friday. The firm has a market capitalization of $389.37 million, a PE ratio of -2.14 and a beta of 1.50. The company’s 50-day moving average is $4.45 and its 200-day moving average is $2.94. Mersana Therapeutics has a fifty-two week low of $0.80 and a fifty-two week high of $9.62. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.36 and a quick ratio of 3.36.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.16) earnings per share for the quarter, hitting the consensus estimate of ($0.16). Mersana Therapeutics had a negative net margin of 465.80% and a negative return on equity of 282.36%. The company had revenue of $10.70 million for the quarter, compared to analyst estimates of $22.59 million. During the same period in the previous year, the business earned ($0.44) EPS. Mersana Therapeutics’s revenue for the quarter was down 27.1% compared to the same quarter last year. Sell-side analysts anticipate that Mersana Therapeutics will post -0.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MRSN. Affinity Asset Advisors LLC purchased a new stake in Mersana Therapeutics during the third quarter worth about $3,620,000. Walleye Capital LLC increased its holdings in Mersana Therapeutics by 1,205.0% during the third quarter. Walleye Capital LLC now owns 2,021,467 shares of the company’s stock worth $2,567,000 after buying an additional 1,866,568 shares during the last quarter. Newtyn Management LLC purchased a new position in shares of Mersana Therapeutics in the third quarter worth about $889,000. Acadian Asset Management LLC purchased a new position in shares of Mersana Therapeutics in the third quarter worth about $449,000. Finally, Readystate Asset Management LP purchased a new position in shares of Mersana Therapeutics in the fourth quarter worth about $684,000. 93.92% of the stock is owned by institutional investors.

About Mersana Therapeutics

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company, develops antibody drug conjugates (ADC) for cancer patients with unmet needs. The company develops XMT-1660, a B7-H4-targeted Dolasynthen ADC candidate; and XMT-2056, an immunosynthen ADC. It has research and development collaborations with Janssen Biotech, Inc, Ares Trading SA, Merck KGaA, and Asana BioSciences, LLC for the development of ADC product candidates.