Mersana Therapeutics (NASDAQ:MRSN) Given New $3.00 Price Target at Robert W. Baird

Mersana Therapeutics (NASDAQ:MRSN) had its price objective trimmed by Robert W. Baird from $4.00 to $3.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Separately, Lifesci Capital raised Mersana Therapeutics to a strong-buy rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Mersana Therapeutics currently has a consensus rating of Moderate Buy and a consensus price target of $6.00.

Mersana Therapeutics Price Performance

Shares of NASDAQ MRSN traded up $0.07 during mid-day trading on Wednesday, reaching $1.30. The company’s stock had a trading volume of 722,636 shares, compared to its average volume of 1,841,735. The stock has a fifty day moving average of $1.94 and a two-hundred day moving average of $3.13. The firm has a market capitalization of $159.07 million, a PE ratio of -1.08 and a beta of 1.55. Mersana Therapeutics has a 52 week low of $1.07 and a 52 week high of $6.28. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.51 and a quick ratio of 3.51.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.02). The company had revenue of $2.30 million for the quarter, compared to the consensus estimate of $8.72 million. Mersana Therapeutics had a negative net margin of 352.01% and a negative return on equity of 260.65%. The company’s quarterly revenue was down 78.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.47) EPS. As a group, sell-side analysts anticipate that Mersana Therapeutics will post -0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MRSN. Russell Investments Group Ltd. lifted its position in Mersana Therapeutics by 976.7% in the first quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company’s stock worth $42,000 after buying an additional 8,575 shares during the last quarter. Victory Capital Management Inc. bought a new position in Mersana Therapeutics during the fourth quarter valued at $30,000. Nisa Investment Advisors LLC raised its stake in shares of Mersana Therapeutics by 479.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 17,643 shares of the company’s stock valued at $41,000 after acquiring an additional 14,600 shares during the period. Walleye Trading LLC bought a new stake in shares of Mersana Therapeutics in the 1st quarter worth about $141,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Mersana Therapeutics during the 1st quarter worth about $226,000. Institutional investors own 93.92% of the company’s stock.

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.