Brokerages Set Mersana Therapeutics, Inc. (NASDAQ:MRSN) Price Target at $6.00

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $6.00.

Several brokerages have recently commented on MRSN. Lifesci Capital raised Mersana Therapeutics to a “strong-buy” rating in a research report on Monday, July 29th. Robert W. Baird lowered their target price on Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. Finally, Citigroup reduced their price target on Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 27th.

Insiders Place Their Bets

In related news, CEO Martin H. Jr. Huber sold 50,423 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $1.76, for a total value of $88,744.48. Following the completion of the sale, the chief executive officer now owns 116,327 shares in the company, valued at approximately $204,735.52. This trade represents a 30.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 70,849 shares of company stock valued at $129,184 in the last three months. Company insiders own 11.80% of the company’s stock.

Institutional Trading of Mersana Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Verition Fund Management LLC boosted its stake in Mersana Therapeutics by 11,695.2% during the third quarter. Verition Fund Management LLC now owns 1,303,249 shares of the company’s stock worth $2,463,000 after buying an additional 1,292,200 shares in the last quarter. ClariVest Asset Management LLC bought a new stake in Mersana Therapeutics in the first quarter valued at about $2,114,000. HealthInvest Partners AB raised its position in Mersana Therapeutics by 191.3% in the third quarter. HealthInvest Partners AB now owns 538,621 shares of the company’s stock worth $1,018,000 after purchasing an additional 353,721 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Mersana Therapeutics by 166.7% during the first quarter. Acadian Asset Management LLC now owns 468,923 shares of the company’s stock worth $2,099,000 after purchasing an additional 293,115 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in Mersana Therapeutics during the second quarter valued at approximately $508,000. 93.92% of the stock is currently owned by institutional investors.

Mersana Therapeutics Trading Down 4.2 %

NASDAQ:MRSN opened at $2.52 on Friday. Mersana Therapeutics has a 52 week low of $1.22 and a 52 week high of $6.28. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 2.02. The company has a market cap of $309.14 million, a PE ratio of -2.90 and a beta of 1.50. The business’s 50 day moving average is $2.02 and its two-hundred day moving average is $2.07.

Mersana Therapeutics (NASDAQ:MRSN) last posted its earnings results on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). Mersana Therapeutics had a negative net margin of 349.98% and a negative return on equity of 333.91%. The business had revenue of $2.30 million during the quarter, compared to analyst estimates of $8.72 million. During the same quarter in the prior year, the business earned ($0.47) earnings per share. The firm’s revenue was down 78.3% compared to the same quarter last year. On average, analysts predict that Mersana Therapeutics will post -0.71 EPS for the current year.

Mersana Therapeutics Company Profile

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.