Mersana Therapeutics, Inc. (NASDAQ:MRSN) Receives $6.00 Average PT from Analysts

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has received an average recommendation of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $6.00.

MRSN has been the topic of a number of research reports. Lifesci Capital upgraded shares of Mersana Therapeutics to a “strong-buy” rating in a report on Monday, July 29th. Robert W. Baird dropped their price target on Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Finally, Citigroup reduced their price objective on Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th.

Insider Activity at Mersana Therapeutics

In other Mersana Therapeutics news, CEO Martin H. Jr. Huber sold 50,423 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $1.76, for a total value of $88,744.48. Following the sale, the chief executive officer now owns 116,327 shares in the company, valued at $204,735.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 11.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mersana Therapeutics

A number of hedge funds have recently added to or reduced their stakes in MRSN. ClariVest Asset Management LLC bought a new stake in shares of Mersana Therapeutics during the first quarter valued at approximately $2,114,000. Acadian Asset Management LLC grew its stake in Mersana Therapeutics by 166.7% in 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 in the last quarter. Squarepoint Ops LLC purchased a new position in Mersana Therapeutics during the 2nd quarter worth $508,000. Susquehanna Fundamental Investments LLC bought a new stake in Mersana Therapeutics during the 1st quarter valued at $1,049,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Mersana Therapeutics by 105,301.7% in the 2nd quarter. Federated Hermes Inc. now owns 185,507 shares of the company’s stock worth $373,000 after buying an additional 185,331 shares during the period. 93.92% of the stock is currently owned by institutional investors.

Mersana Therapeutics Price Performance

Shares of Mersana Therapeutics stock opened at $1.95 on Thursday. The firm has a market cap of $237.99 million, a PE ratio of -1.71 and a beta of 1.47. The stock has a 50 day moving average of $1.72 and a 200 day moving average of $2.63. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 2.02. Mersana Therapeutics has a 12 month low of $1.07 and a 12 month high of $6.28.

Mersana Therapeutics (NASDAQ:MRSN) last posted its earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $8.72 million. During the same period last year, the business posted ($0.47) earnings per share. The company’s revenue for the quarter was down 78.3% compared to the same quarter last year. On average, research analysts expect that Mersana Therapeutics will post -0.72 EPS for the current fiscal year.

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.