Brokerages Set Mersana Therapeutics, Inc. (NASDAQ:MRSN) Price Target at $8.57

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has been assigned a consensus recommendation of “Reduce” from the seven analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $8.57.

A number of brokerages have recently commented on MRSN. Citigroup downgraded Mersana Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, July 27th. Guggenheim cut Mersana Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, July 27th. Truist Financial reaffirmed a “hold” rating on shares of Mersana Therapeutics in a report on Thursday, July 27th. Robert W. Baird cut Mersana Therapeutics from an “outperform” rating to a “neutral” rating in a research note on Friday, July 28th. Finally, Wedbush reissued a “neutral” rating and set a $2.00 target price on shares of Mersana Therapeutics in a research note on Tuesday, August 8th.

Hedge Funds Weigh In On Mersana Therapeutics

Several institutional investors have recently added to or reduced their stakes in MRSN. BlackRock Inc. boosted its holdings in Mersana Therapeutics by 6.6% in the 2nd quarter. BlackRock Inc. now owns 7,963,982 shares of the company’s stock valued at $26,202,000 after purchasing an additional 490,160 shares in the last quarter. State Street Corp boosted its holdings in Mersana Therapeutics by 9.5% in the 1st quarter. State Street Corp now owns 6,412,222 shares of the company’s stock valued at $26,354,000 after purchasing an additional 556,161 shares in the last quarter. Bellevue Group AG boosted its holdings in Mersana Therapeutics by 21.4% in the 2nd quarter. Bellevue Group AG now owns 5,219,425 shares of the company’s stock valued at $17,172,000 after purchasing an additional 919,806 shares in the last quarter. Braidwell LP lifted its stake in shares of Mersana Therapeutics by 80.2% during the 1st quarter. Braidwell LP now owns 3,355,805 shares of the company’s stock worth $13,792,000 after purchasing an additional 1,493,105 shares during the period. Finally, Artal Group S.A. lifted its stake in shares of Mersana Therapeutics by 36.7% during the 2nd quarter. Artal Group S.A. now owns 3,029,555 shares of the company’s stock worth $9,967,000 after purchasing an additional 813,767 shares during the period.

Mersana Therapeutics Trading Down 3.7 %

Shares of NASDAQ:MRSN opened at $1.16 on Friday. The business’s 50-day moving average is $1.31 and its 200 day moving average is $3.49. Mersana Therapeutics has a 1 year low of $0.80 and a 1 year high of $9.62. The firm has a market capitalization of $139.79 million, a P/E ratio of -0.57 and a beta of 1.38. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.97 and a quick ratio of 3.97.

Mersana Therapeutics (NASDAQ:MRSN) last announced its earnings results on Tuesday, August 8th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.03). The business had revenue of $10.70 million for the quarter, compared to analyst estimates of $12.93 million. Mersana Therapeutics had a negative net margin of 555.84% and a negative return on equity of 255.91%. The firm’s quarterly revenue was up 148.8% on a year-over-year basis. On average, research analysts predict that Mersana Therapeutics will post -1.5 earnings per share for the current fiscal 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 a research and development collaborations with Janssen Biotech, Inc and Merck KGaA, as well as collaboration agreement with Asana BioSciences, LLC for the development of ADC product candidates.