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

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has been given an average rating of “Buy” by the seven ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $5.20.

MRSN has been the subject of several recent research reports. William Blair reiterated an “outperform” rating on shares of Mersana Therapeutics in a report on Tuesday, June 3rd. Guggenheim reissued a “buy” rating and set a $5.00 price objective on shares of Mersana Therapeutics in a research report on Friday, May 16th. Wedbush restated an “outperform” rating and set a $3.00 target price on shares of Mersana Therapeutics in a research note on Thursday, May 15th. Finally, Truist Financial lifted their target price on shares of Mersana Therapeutics from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, May 16th.

Hedge Funds Weigh In On Mersana Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of MRSN. Wells Fargo & Company MN lifted its holdings in Mersana Therapeutics by 40.3% during the 4th quarter. Wells Fargo & Company MN now owns 67,483 shares of the company’s stock worth $97,000 after buying an additional 19,368 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Mersana Therapeutics by 28.7% in the 4th quarter. SG Americas Securities LLC now owns 112,291 shares of the company’s stock valued at $161,000 after purchasing an additional 25,058 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Mersana Therapeutics by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,442,250 shares of the company’s stock valued at $3,493,000 after purchasing an additional 29,035 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Mersana Therapeutics by 115.7% in the 4th quarter. MetLife Investment Management LLC now owns 73,150 shares of the company’s stock valued at $105,000 after purchasing an additional 39,234 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Mersana Therapeutics in the 4th quarter valued at $65,000. 93.92% of the stock is currently owned by institutional investors and hedge funds.

Mersana Therapeutics Price Performance

Mersana Therapeutics stock opened at $0.39 on Tuesday. Mersana Therapeutics has a 12 month low of $0.26 and a 12 month high of $2.83. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 13.35. The business’s 50 day simple moving average is $0.35 and its 200 day simple moving average is $0.79. The company has a market cap of $48.71 million, a price-to-earnings ratio of -0.64 and a beta of 0.83.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Sell-side analysts forecast that Mersana Therapeutics will post -0.62 EPS for the current 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 research and development collaborations with Janssen Biotech, Inc, Ares Trading SA, Merck KGaA, and Asana BioSciences, LLC for the development of ADC product candidates.