Equities research analysts expect Mersana Therapeutics Inc (NASDAQ:MRSN) to post $3.98 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Mersana Therapeutics’ earnings. The highest sales estimate is $4.50 million and the lowest is $3.00 million. Mersana Therapeutics posted sales of $6.27 million during the same quarter last year, which would indicate a negative year over year growth rate of 36.5%. The company is expected to issue its next earnings results before the market opens on Tuesday, November 13th.
According to Zacks, analysts expect that Mersana Therapeutics will report full-year sales of $15.32 million for the current year, with estimates ranging from $13.26 million to $16.76 million. For the next fiscal year, analysts anticipate that the business will report sales of $20.95 million, with estimates ranging from $16.80 million to $27.05 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Mersana Therapeutics.
Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings results on Wednesday, August 15th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.58) by $0.04. Mersana Therapeutics had a negative net margin of 276.81% and a negative return on equity of 72.63%. The company had revenue of $4.19 million during the quarter, compared to analyst estimates of $3.74 million.
Several analysts recently commented on MRSN shares. HC Wainwright set a $16.00 price objective on shares of Mersana Therapeutics and gave the company a “buy” rating in a research report on Thursday, August 16th. Robert W. Baird set a $20.00 price objective on shares of Mersana Therapeutics and gave the company a “buy” rating in a research report on Wednesday, August 15th. Leerink Swann downgraded shares of Mersana Therapeutics from an “outperform” rating to a “market perform” rating and set a $61.00 price objective on the stock. in a research report on Thursday, July 19th. Zacks Investment Research raised shares of Mersana Therapeutics from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Tuesday, July 17th. Finally, ValuEngine downgraded shares of Mersana Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $26.83.
Shares of MRSN stock opened at $6.13 on Friday. Mersana Therapeutics has a one year low of $5.82 and a one year high of $23.96. The stock has a market cap of $155.36 million, a P/E ratio of -1.90 and a beta of 1.20.
In related news, insider Timothy B. Lowinger sold 3,500 shares of the stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $11.63, for a total transaction of $40,705.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 39.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Mersana Therapeutics by 1.9% during the 3rd quarter. BlackRock Inc. now owns 1,025,042 shares of the company’s stock valued at $10,250,000 after acquiring an additional 18,685 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Mersana Therapeutics by 8.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 318,361 shares of the company’s stock valued at $3,183,000 after acquiring an additional 24,058 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Mersana Therapeutics by 13.9% during the 2nd quarter. Northern Trust Corp now owns 127,162 shares of the company’s stock valued at $2,271,000 after acquiring an additional 15,493 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Mersana Therapeutics by 27.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 31,615 shares of the company’s stock valued at $564,000 after acquiring an additional 6,804 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Mersana Therapeutics during the 2nd quarter valued at about $2,198,000. 82.39% of the stock is currently owned by hedge funds and other institutional investors.
About Mersana Therapeutics
Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of oncology therapeutics in the United States and Canada. The company develops Dolaflexin, an antibody drug conjugate (ADC) platform designed to enhance the potency and efficacy of ADCs while simultaneously enhancing the safety and tolerability.
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