Mersana Therapeutics, Inc. (NASDAQ:MRSN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $56.60.

MRSN has been the topic of several research analyst reports. Wall Street Zen cut Mersana Therapeutics to a “strong sell” rating in a report on Saturday, August 2nd. Truist Financial decreased their target price on Mersana Therapeutics from $250.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, August 14th. BTIG Research reaffirmed a “buy” rating and issued a $17.00 target price on shares of Mersana Therapeutics in a report on Wednesday, August 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mersana Therapeutics in a report on Wednesday, October 8th. Finally, Guggenheim decreased their target price on Mersana Therapeutics from $125.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 14th.

Mersana Therapeutics Price Performance

NASDAQ MRSN opened at $9.24 on Monday. The business’s fifty day moving average price is $7.42 and its 200-day moving average price is $8.21. The stock has a market capitalization of $46.12 million, a price-to-earnings ratio of -0.63 and a beta of 0.90. Mersana Therapeutics has a 1-year low of $5.21 and a 1-year high of $70.75.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($4.08) earnings per share for the quarter, missing the consensus estimate of ($3.75) by ($0.33). The firm had revenue of $3.06 million during the quarter, compared to analysts’ expectations of $6.06 million. Equities research analysts anticipate that Mersana Therapeutics will post -0.62 EPS for the current year.

Hedge Funds Weigh In On Mersana Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Invesco Ltd. grew its position in Mersana Therapeutics by 109.3% in the first quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock worth $40,000 after acquiring an additional 59,991 shares in the last quarter. Algert Global LLC grew its position in Mersana Therapeutics by 124.7% in the first quarter. Algert Global LLC now owns 135,013 shares of the company’s stock worth $46,000 after acquiring an additional 74,930 shares in the last quarter. Cerity Partners LLC grew its position in Mersana Therapeutics by 31.4% in the second quarter. Cerity Partners LLC now owns 320,805 shares of the company’s stock worth $95,000 after acquiring an additional 76,570 shares in the last quarter. JPMorgan Chase & Co. grew its position in Mersana Therapeutics by 156.6% in the second quarter. JPMorgan Chase & Co. now owns 130,094 shares of the company’s stock worth $39,000 after acquiring an additional 79,390 shares in the last quarter. Finally, Pallas Capital Advisors LLC purchased a new position in Mersana Therapeutics in the first quarter worth about $33,000. 93.92% of the stock is 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.