Mersana Therapeutics (NASDAQ:MRSN) Downgraded by Zacks Investment Research

Mersana Therapeutics (NASDAQ:MRSN – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

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. “

Other equities analysts have also issued research reports about the company. HC Wainwright lowered their price objective on Mersana Therapeutics from $24.00 to $19.00 in a research note on Monday. SVB Leerink decreased their price target on Mersana Therapeutics from $25.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, February 18th. Finally, Robert W. Baird decreased their price target on Mersana Therapeutics from $23.00 to $18.00 in a research note on Tuesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Mersana Therapeutics currently has an average rating of “Buy” and an average price target of $17.80.

Mersana Therapeutics stock opened at $3.26 on Wednesday. The stock’s fifty day moving average price is $4.07 and its two-hundred day moving average price is $5.51. Mersana Therapeutics has a one year low of $3.13 and a one year high of $15.41. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.97 and a quick ratio of 3.97. The firm has a market cap of $271.85 million, a PE ratio of -1.36 and a beta of 2.37.

Mersana Therapeutics (NASDAQ:MRSN – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.28). Mersana Therapeutics had a negative return on equity of 101.42% and a negative net margin of 386,500.03%. During the same period in the prior year, the business posted ($0.50) EPS. Sell-side analysts expect 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 purchased 598,086 shares of the firm’s stock in a transaction dated Tuesday, April 12th. The shares were bought at an average price of $4.18 per share, for a total transaction of $2,499,999.48. Following the purchase, the director now owns 7,120,116 shares in the company, valued at approximately $29,762,084.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of MRSN. Marshall Wace LLP bought a new stake in Mersana Therapeutics during the 1st quarter worth $141,000. Morgan Stanley grew its position in Mersana Therapeutics by 853.2% during the 2nd quarter. Morgan Stanley now owns 126,177 shares of the company’s stock worth $1,713,000 after acquiring an additional 112,940 shares during the last quarter. Bank of America Corp DE grew its position in Mersana Therapeutics by 65.4% during the 2nd quarter. Bank of America Corp DE now owns 55,232 shares of the company’s stock worth $750,000 after acquiring an additional 21,841 shares during the last quarter. SG Americas Securities LLC bought a new stake in Mersana Therapeutics during the 3rd quarter worth $346,000. Finally, Swiss National Bank lifted its holdings in Mersana Therapeutics by 1.8% during the 3rd quarter. Swiss National Bank now owns 122,996 shares of the company’s stock worth $1,160,000 after buying an additional 2,200 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

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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