Mersana Therapeutics (NASDAQ:MRSN) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Mersana Therapeutics (NASDAQ:MRSN) to a strong sell rating in a research report report published on Saturday.

A number of other research firms have also weighed in on MRSN. William Blair reaffirmed an “outperform” rating on shares of Mersana Therapeutics in a report on Tuesday, June 3rd. Guggenheim reissued a “buy” rating and issued a $125.00 price target on shares of Mersana Therapeutics in a research note on Friday, May 16th. Wedbush reissued an “outperform” rating and issued a $75.00 price target on shares of Mersana Therapeutics in a research note on Thursday, May 15th. Finally, Truist Financial boosted their price target on shares of Mersana Therapeutics from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Mersana Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $130.00.

Mersana Therapeutics Trading Up 3.9%

Mersana Therapeutics stock opened at $6.86 on Friday. The firm’s 50 day simple moving average is $8.46 and its 200 day simple moving average is $10.43. The firm has a market capitalization of $34.23 million, a PE ratio of -0.47 and a beta of 0.83. Mersana Therapeutics has a 1-year low of $6.37 and a 1-year high of $70.75.

Mersana Therapeutics (NASDAQ:MRSN) last posted its earnings results on Thursday, May 15th. The company reported ($4.75) earnings per share for the quarter, topping analysts’ consensus estimates of ($5.25) by $0.50. The business had revenue of $2.75 million for the quarter, compared to analyst estimates of $6.05 million. Mersana Therapeutics had a negative net margin of 217.63% and a negative return on equity of 990.16%. Research analysts forecast that Mersana Therapeutics will post -0.62 earnings per share for the current year.

Hedge Funds Weigh In On Mersana Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pallas Capital Advisors LLC purchased a new stake in shares of Mersana Therapeutics in the 1st quarter valued at $33,000. Invesco Ltd. boosted its stake in shares of Mersana Therapeutics by 109.3% in the 1st quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock valued at $40,000 after purchasing an additional 59,991 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Mersana Therapeutics in the 1st quarter valued at $45,000. Algert Global LLC boosted its stake in shares of Mersana Therapeutics by 124.7% in the 1st quarter. Algert Global LLC now owns 135,013 shares of the company’s stock valued at $46,000 after purchasing an additional 74,930 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Mersana Therapeutics by 102,580.6% in the 1st quarter. CWM LLC now owns 184,825 shares of the company’s stock valued at $64,000 after purchasing an additional 184,645 shares in the last quarter. Hedge funds and other institutional investors 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.