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

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has received an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $6.29.

A number of research firms have commented on MRSN. JPMorgan Chase & Co. raised shares of Mersana Therapeutics from an “underweight” rating to a “neutral” rating and set a $5.00 target price on the stock in a research report on Tuesday, March 19th. Wedbush upgraded shares of Mersana Therapeutics from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $2.00 to $7.00 in a report on Thursday, February 29th. Guggenheim raised Mersana Therapeutics from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Thursday, February 29th. Robert W. Baird boosted their price objective on Mersana Therapeutics from $1.00 to $5.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Finally, BTIG Research raised shares of Mersana Therapeutics from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Thursday, February 29th.

Institutional Investors Weigh In On Mersana Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fox Run Management L.L.C. purchased a new position in Mersana Therapeutics in the third quarter valued at approximately $28,000. Bayesian Capital Management LP acquired a new position in shares of Mersana Therapeutics in the 4th quarter valued at $28,000. Victory Capital Management Inc. acquired a new position in shares of Mersana Therapeutics in the 4th quarter valued at $30,000. Quantbot Technologies LP purchased a new position in shares of Mersana Therapeutics in the 1st quarter valued at $37,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Mersana Therapeutics during the 4th quarter worth $37,000. Institutional investors and hedge funds own 93.92% of the company’s stock.

Mersana Therapeutics Stock Down 5.1 %

NASDAQ MRSN opened at $3.34 on Friday. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 0.63. Mersana Therapeutics has a 52 week low of $0.80 and a 52 week high of $9.62. The business’s fifty day simple moving average is $4.48 and its 200-day simple moving average is $2.89. The firm has a market cap of $405.14 million, a PE ratio of -2.23 and a beta of 1.50.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.16) EPS for the quarter, meeting analysts’ consensus estimates of ($0.16). Mersana Therapeutics had a negative return on equity of 282.36% and a negative net margin of 465.80%. The firm had revenue of $10.70 million for the quarter, compared to analysts’ expectations of $22.59 million. During the same period in the prior year, the firm posted ($0.44) earnings per share. The firm’s quarterly revenue was down 27.1% on a year-over-year basis. As a group, equities analysts anticipate that Mersana Therapeutics will post -0.6 earnings per share for the current year.

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.