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

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $5.57.

A number of equities analysts recently issued reports on the company. Citigroup assumed coverage on Mersana Therapeutics in a report on Friday, November 15th. They issued a “buy” rating and a $5.00 price objective for the company. Wedbush reissued an “outperform” rating and set a $4.00 price target (down from $7.00) on shares of Mersana Therapeutics in a report on Friday, January 10th.

Institutional Investors Weigh In On Mersana Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of Mersana Therapeutics by 1.6% during the third quarter. State Street Corp now owns 2,725,394 shares of the company’s stock valued at $5,151,000 after purchasing an additional 43,339 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Mersana Therapeutics by 18.9% during the third quarter. JPMorgan Chase & Co. now owns 2,351,359 shares of the company’s stock valued at $4,444,000 after buying an additional 374,460 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Mersana Therapeutics by 1.4% during the second quarter. Renaissance Technologies LLC now owns 1,448,219 shares of the company’s stock valued at $2,911,000 after buying an additional 20,400 shares in the last quarter. Verition Fund Management LLC boosted its holdings in shares of Mersana Therapeutics by 11,695.2% in 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 during the period. Finally, Exome Asset Management LLC purchased a new position in shares of Mersana Therapeutics in the third quarter worth approximately $2,227,000. Institutional investors and hedge funds own 93.92% of the company’s stock.

Mersana Therapeutics Price Performance

Shares of NASDAQ MRSN opened at $0.64 on Wednesday. Mersana Therapeutics has a 1-year low of $0.49 and a 1-year high of $6.28. The firm has a market capitalization of $79.55 million, a PE ratio of -1.06 and a beta of 1.43. The company has a debt-to-equity ratio of 13.35, a current ratio of 2.35 and a quick ratio of 2.35. The business’s fifty day moving average price is $1.56 and its two-hundred day moving average price is $1.77.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings data on Wednesday, November 13th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.08. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. The firm had revenue of $12.60 million for the quarter, compared to the consensus estimate of $7.53 million. During the same period last year, the firm posted ($0.35) EPS. Mersana Therapeutics’s quarterly revenue was up 63.6% compared to the same quarter last year. On average, research analysts expect that Mersana Therapeutics will post -0.61 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.