Mersana Therapeutics (NASDAQ:MRSN) Raised to “Buy” at Zacks Investment Research

Mersana Therapeutics (NASDAQ:MRSNGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The firm currently has a $4.00 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 8.11% from the company’s current price.

According to Zacks, “Mersana Therapeutics, Inc. is a biotechnology company. It focused on discovering and developing a pipeline of antibody drug conjugates. The company’s product candidates include XMT-1522 and XMT-1536 which are in clinical stage. Mersana Therapeutics, Inc. is based in CAMBRIDGE, United States. “

Separately, SVB Leerink reduced their price objective on shares of Mersana Therapeutics from $25.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, February 18th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $20.60.

Shares of Mersana Therapeutics stock opened at $3.70 on Tuesday. Mersana Therapeutics has a 52-week low of $3.34 and a 52-week high of $16.50. The company has a 50 day moving average of $4.14 and a 200 day moving average of $5.69. The company has a quick ratio of 3.97, a current ratio of 3.97 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $308.54 million, a P/E ratio of -1.54 and a beta of 2.45.

Mersana Therapeutics (NASDAQ:MRSNGet Rating) last issued its quarterly earnings results on Monday, February 28th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.01). The firm had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.01 million. Mersana Therapeutics had a negative return on equity of 101.42% and a negative net margin of 386,500.03%. During the same quarter in the prior year, the firm earned ($0.42) EPS. As a group, research analysts anticipate that Mersana Therapeutics will post -2.2 earnings per share for the current fiscal year.

In other Mersana Therapeutics news, Director Andrew A. F. Hack bought 1,136,363 shares of the business’s stock in a transaction dated Monday, February 7th. The shares were acquired at an average cost of $4.42 per share, with a total value of $5,022,724.46. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Andrew A. F. Hack bought 598,086 shares of the business’s stock in a transaction dated Tuesday, April 12th. The stock was acquired at an average cost of $4.18 per share, for a total transaction of $2,499,999.48. Following the completion of the acquisition, the director now directly owns 7,120,116 shares in the company, valued at $29,762,084.88. The disclosure for this purchase can be found here. Insiders own 5.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased its stake in Mersana Therapeutics by 47.2% in the 3rd quarter. Royal Bank of Canada now owns 6,941 shares of the company’s stock valued at $66,000 after buying an additional 2,226 shares during the period. Ensign Peak Advisors Inc acquired a new position in Mersana Therapeutics in the 4th quarter valued at $56,000. Point72 Hong Kong Ltd acquired a new position in Mersana Therapeutics in the 4th quarter valued at $57,000. Teacher Retirement System of Texas acquired a new position in Mersana Therapeutics in the 4th quarter valued at $67,000. Finally, Bridgefront Capital LLC acquired a new position in Mersana Therapeutics in the 4th quarter valued at $97,000. 92.74% of the stock is currently owned by institutional investors.

Mersana Therapeutics Company Profile (Get Rating)

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company, develops antibody drug conjugates (ADC) for cancer patients with unmet need. It develops XMT-1592, a Dolasynthen ADC targeting NaPi2b-expressing tumor cells, which is in phase I clinical trial for the treatment of ovarian cancer and NSCLC adenocarcinoma.

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