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

Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) have been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $6.00.

Several research firms have weighed in on MRSN. Lifesci Capital raised Mersana Therapeutics to a “strong-buy” rating in a research report on Monday, July 29th. Citigroup dropped their target price on Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Finally, Robert W. Baird dropped their target price 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.

Mersana Therapeutics Stock Down 4.5 %

Shares of NASDAQ:MRSN opened at $1.80 on Thursday. The business has a 50-day moving average price of $1.70 and a 200 day moving average price of $2.59. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 2.02. The company has a market capitalization of $220.82 million, a price-to-earnings ratio of -1.58 and a beta of 1.47. Mersana Therapeutics has a 12-month low of $1.07 and a 12-month high of $6.28.

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

Insider Activity

In related news, CEO Martin H. Jr. Huber sold 50,423 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $1.76, for a total transaction of $88,744.48. Following the completion of 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 document filed with the SEC, which is available through the SEC website. Company insiders own 11.80% of the company’s stock.

Institutional Investors Weigh In On Mersana Therapeutics

Several institutional investors have recently added to or reduced their stakes in MRSN. ClariVest Asset Management LLC purchased a new stake in Mersana Therapeutics during the first quarter worth approximately $2,114,000. Acadian Asset Management LLC increased its position 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 buying an additional 293,115 shares during the period. Squarepoint Ops LLC acquired a new position in Mersana Therapeutics during the second quarter worth approximately $508,000. Susquehanna Fundamental Investments LLC acquired a new position in Mersana Therapeutics during the first quarter worth approximately $1,049,000. Finally, Federated Hermes Inc. increased its position in Mersana Therapeutics by 105,301.7% during the second 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. Hedge funds and other 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.