Mersana Therapeutics, Inc. (NASDAQ:MRSN) Given Consensus Rating of “Reduce” by Analysts

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has been assigned an average recommendation of “Reduce” from the eight ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $38.1875.

A number of brokerages have recently weighed in on MRSN. William Blair lowered Mersana Therapeutics from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, November 13th. Leerink Partnrs lowered Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Guggenheim downgraded shares of Mersana Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Mersana Therapeutics in a report on Monday. Finally, BTIG Research cut shares of Mersana Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, November 13th.

Mersana Therapeutics Trading Down 0.1%

Shares of NASDAQ:MRSN opened at $29.08 on Friday. The company has a market cap of $145.40 million, a price-to-earnings ratio of -2.10 and a beta of 0.45. Mersana Therapeutics has a 12 month low of $5.21 and a 12 month high of $38.00. The company has a 50-day moving average price of $21.32 and a 200-day moving average price of $12.60.

Mersana Therapeutics (NASDAQ:MRSN) last announced its quarterly earnings results on Friday, November 14th. The company reported ($1.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.44) by ($0.07). The company had revenue of $11.01 million during the quarter, compared to the consensus estimate of $14.20 million. As a group, research analysts forecast that Mersana Therapeutics will post -0.62 EPS for the current fiscal year.

Institutional Trading of Mersana Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new position in shares of Mersana Therapeutics during the 1st quarter worth approximately $1,770,000. Acadian Asset Management LLC purchased a new position in shares of Mersana Therapeutics in the 1st quarter valued at approximately $1,028,000. 683 Capital Management LLC boosted its position in shares of Mersana Therapeutics by 20.6% during the second quarter. 683 Capital Management LLC now owns 1,990,000 shares of the company’s stock valued at $589,000 after purchasing an additional 340,000 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Mersana Therapeutics by 19.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,333,124 shares of the company’s stock valued at $459,000 after purchasing an additional 221,126 shares in the last quarter. Finally, Ieq Capital LLC purchased a new stake in Mersana Therapeutics in the first quarter worth $243,000. 93.92% of the stock is currently owned by hedge funds and other institutional investors.

About Mersana Therapeutics

Mersana Therapeutics, Inc is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the development of innovative antibody-drug conjugates (ADCs) for the treatment of cancer. Since its founding in 2003, Mersana has leveraged its proprietary Fleximer® platform to engineer next-generation ADCs that aim to improve the therapeutic index by enhancing drug delivery to tumor cells while minimizing systemic toxicity. The company’s research efforts are centered on creating highly potent payloads linked to antibodies that selectively target tumor-associated antigens.

The Fleximer platform enables site-specific conjugation of multiple payload molecules, offering adjustable drug-to-antibody ratios and controlled release characteristics.