Mersana Therapeutics’ (MRSN) “Outperform” Rating Reaffirmed at William Blair

William Blair reaffirmed their outperform rating on shares of Mersana Therapeutics (NASDAQ:MRSN) in a research note released on Tuesday morning,RTT News reports.

MRSN has been the topic of several other research reports. Wedbush reaffirmed an “outperform” rating and issued a $3.00 target price on shares of Mersana Therapeutics in a research report on Thursday, May 15th. Guggenheim reaffirmed a “buy” rating and issued a $5.00 target price on shares of Mersana Therapeutics in a research report on Friday, May 16th. Finally, Truist Financial upped their target price on Mersana Therapeutics from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $5.20.

Mersana Therapeutics Price Performance

Shares of NASDAQ MRSN opened at $0.35 on Tuesday. The business’s 50 day moving average price is $0.35 and its two-hundred day moving average price is $0.85. The company has a market cap of $43.47 million, a PE ratio of -0.57 and a beta of 1.32. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 13.35. Mersana Therapeutics has a twelve month low of $0.26 and a twelve month high of $2.83.

Mersana Therapeutics (NASDAQ:MRSN) last posted its earnings results on Thursday, May 15th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.02. Mersana Therapeutics had a negative return on equity of 401.37% and a negative net margin of 214.20%. The company had revenue of $2.75 million for the quarter, compared to the consensus estimate of $6.05 million. On average, analysts predict that Mersana Therapeutics will post -0.62 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. bought a new position in shares of Mersana Therapeutics in the 4th quarter valued at $37,000. Cubist Systematic Strategies LLC bought a new position in shares of Mersana Therapeutics in the 4th quarter valued at $65,000. Oxford Asset Management LLP bought a new position in shares of Mersana Therapeutics in the 4th quarter valued at $94,000. Wells Fargo & Company MN lifted its stake in shares of Mersana Therapeutics by 40.3% in the 4th quarter. Wells Fargo & Company MN now owns 67,483 shares of the company’s stock valued at $97,000 after acquiring an additional 19,368 shares during the last quarter. Finally, Sei Investments Co. bought a new position in shares of Mersana Therapeutics in the 4th quarter valued at $99,000. 93.92% of the stock is currently owned by institutional investors.

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 research and development collaborations with Janssen Biotech, Inc, Ares Trading SA, Merck KGaA, and Asana BioSciences, LLC for the development of ADC product candidates.