Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) have been given a consensus broker rating score of 1.00 (Strong Buy) from the four brokers that provide coverage for the company, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy rating.

Brokers have set a one year consensus price target of $23.67 for the company, according to Zacks. Zacks has also assigned Mersana Therapeutics an industry rank of 106 out of 265 based on the ratings given to its competitors.

A number of brokerages have recently issued reports on MRSN. Leerink Swann began coverage on shares of Mersana Therapeutics in a research note on Monday, July 24th. They issued an “outperform” rating and a $23.00 price objective for the company. Cowen and Company began coverage on shares of Mersana Therapeutics in a research note on Monday, July 24th. They issued an “outperform” rating for the company. J P Morgan Chase & Co began coverage on shares of Mersana Therapeutics in a research note on Monday, July 24th. They issued an “overweight” rating and a $23.00 price objective for the company. Finally, Wedbush restated an “outperform” rating and issued a $25.00 price objective on shares of Mersana Therapeutics in a research note on Monday, July 24th.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC acquired a new stake in Mersana Therapeutics in the 2nd quarter valued at about $23,926,000. RHO Capital Partners Inc. acquired a new stake in Mersana Therapeutics in the 2nd quarter valued at about $11,428,000. JPMorgan Chase & Co. acquired a new stake in Mersana Therapeutics in the 2nd quarter valued at about $4,764,000. Vanguard Group Inc. acquired a new stake in Mersana Therapeutics in the 2nd quarter valued at about $1,048,000. Finally, Tudor Investment Corp ET AL acquired a new stake in Mersana Therapeutics in the 2nd quarter valued at about $989,000. Hedge funds and other institutional investors own 74.64% of the company’s stock.

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Shares of Mersana Therapeutics (MRSN) traded down 0.0006% during trading on Monday, reaching $17.4599. 443 shares of the company’s stock were exchanged. Mersana Therapeutics has a 52-week low of $12.71 and a 52-week high of $21.01. The firm’s market capitalization is $396.57 million. The company has a 50 day moving average of $17.73 and a 200 day moving average of $16.17.

Mersana Therapeutics (NASDAQ:MRSN) last announced its quarterly earnings data on Friday, August 11th. The company reported ($6.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($5.77). The firm had revenue of $3.73 million for the quarter, compared to the consensus estimate of $3.33 million. Equities analysts anticipate that Mersana Therapeutics will post ($8.30) earnings per share for the current fiscal year.

About Mersana Therapeutics

Mersana Therapeutics, Inc is a United States-based biotechnology company focused on discovering and developing a pipeline of antibody drug conjugates (ADCs). The Company focuses on advancing a pipeline of targeted oncology therapeutics leveraging its Fleximer immunoconjugate technology. The Fleximer platform allows it to design ADCs with specific properties and manage the drug’s chances of attacking cancers.

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