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

Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $6.29.

A number of equities research 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 target price on the stock in a report on Thursday, February 29th. Guggenheim upgraded Mersana Therapeutics from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Thursday, February 29th. Wedbush upgraded Mersana Therapeutics from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $2.00 to $7.00 in a research note on Thursday, February 29th. JPMorgan Chase & Co. upgraded Mersana Therapeutics from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a research report on Tuesday, March 19th. Finally, BTIG Research raised shares of Mersana Therapeutics from a “neutral” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Thursday, February 29th.

Mersana Therapeutics Stock Down 5.1 %

MRSN stock opened at $3.34 on Friday. The stock has a fifty day moving average of $4.48 and a 200-day moving average of $2.89. Mersana Therapeutics has a fifty-two week low of $0.80 and a fifty-two week high of $9.62. The company has a market capitalization of $405.14 million, a price-to-earnings ratio of -2.23 and a beta of 1.50. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.36 and a current ratio of 3.36.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.16) EPS for the quarter, meeting 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 business had revenue of $10.70 million for the quarter, compared to the consensus estimate of $22.59 million. During the same period in the prior year, the firm earned ($0.44) earnings per share. The company’s revenue was down 27.1% compared to the same quarter last year. As a group, equities research analysts predict that Mersana Therapeutics will post -0.6 earnings per share for the current year.

Hedge Funds Weigh In On Mersana Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Mersana Therapeutics by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 6,237,588 shares of the company’s stock worth $14,471,000 after purchasing an additional 51,465 shares during the last quarter. American International Group Inc. lifted its stake in shares of Mersana Therapeutics by 4.9% in the 4th quarter. American International Group Inc. now owns 55,108 shares of the company’s stock valued at $128,000 after acquiring an additional 2,588 shares during the last quarter. Readystate Asset Management LP bought a new stake in shares of Mersana Therapeutics in the 4th quarter valued at about $684,000. Public Employees Retirement System of Ohio purchased a new stake in Mersana Therapeutics during the 4th quarter valued at about $37,000. Finally, Barclays PLC grew its position in Mersana Therapeutics by 345.2% during the 4th quarter. Barclays PLC now owns 152,064 shares of the company’s stock worth $352,000 after acquiring an additional 117,910 shares during the last quarter. Institutional investors own 93.92% of the company’s stock.

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.