Leerink Partnrs Issues Optimistic Estimate for MRSN Earnings

Mersana Therapeutics, Inc. (NASDAQ:MRSN) – Equities research analysts at Leerink Partnrs upped their FY2024 EPS estimates for Mersana Therapeutics in a research note issued on Wednesday, November 13th. Leerink Partnrs analyst J. Chang now anticipates that the company will earn ($0.57) per share for the year, up from their prior forecast of ($0.62). The consensus estimate for Mersana Therapeutics’ current full-year earnings is ($0.66) per share. Leerink Partnrs also issued estimates for Mersana Therapeutics’ FY2025 earnings at ($0.46) EPS.

Several other equities analysts have also issued reports on the company. Lifesci Capital raised Mersana Therapeutics to a “strong-buy” rating in a research note on Monday, July 29th. Citigroup began coverage on shares of Mersana Therapeutics in a research note on Friday. They issued a “buy” rating and a $5.00 price objective for the company. Finally, Robert W. Baird cut their target price on shares of Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.00.

Mersana Therapeutics Stock Down 12.3 %

NASDAQ:MRSN opened at $2.21 on Monday. Mersana Therapeutics has a 52 week low of $1.22 and a 52 week high of $6.28. The stock’s fifty day moving average is $2.03 and its two-hundred day moving average is $2.05. The stock has a market capitalization of $273.01 million, a price-to-earnings ratio of -3.62 and a beta of 1.50. The company has a quick ratio of 2.72, a current ratio of 2.35 and a debt-to-equity ratio of 13.35.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings data on Wednesday, November 13th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.08. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. The firm had revenue of $12.60 million for the quarter, compared to analyst estimates of $7.53 million. During the same period in the prior year, the business posted ($0.35) EPS. The business’s revenue for the quarter was up 63.6% compared to the same quarter last year.

Insider Transactions at Mersana Therapeutics

In other 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 shares were 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 approximately $204,735.52. The trade was a 30.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 70,849 shares of company stock valued at $129,184. Insiders own 11.80% of the company’s stock.

Hedge Funds Weigh In On Mersana Therapeutics

Large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Mersana Therapeutics in the 1st quarter valued at about $226,000. BNP Paribas Financial Markets grew its position in shares of Mersana Therapeutics by 90.0% during the first quarter. BNP Paribas Financial Markets now owns 80,735 shares of the company’s stock worth $362,000 after acquiring an additional 38,239 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Mersana Therapeutics by 976.7% in the 1st quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company’s stock valued at $42,000 after acquiring an additional 8,575 shares during the period. Vanguard Group Inc. raised its position in Mersana Therapeutics by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,274,370 shares of the company’s stock valued at $28,109,000 after purchasing an additional 36,782 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Mersana Therapeutics by 166.7% during the 1st quarter. Acadian Asset Management LLC now owns 468,923 shares of the company’s stock worth $2,099,000 after purchasing an additional 293,115 shares during the period. Institutional investors and hedge funds 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.