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

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has earned an average recommendation of “Reduce” from the eight analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $38.1875.

A number of analysts have weighed in on the stock. Wedbush downgraded shares of Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. Lifesci Capital downgraded Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. Wall Street Zen raised Mersana Therapeutics to a “sell” rating in a report on Saturday, January 10th. William Blair downgraded Mersana Therapeutics from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Mersana Therapeutics in a research report on Monday, December 29th.

Mersana Therapeutics Stock Up 0.1%

Shares of NASDAQ MRSN opened at $29.08 on Wednesday. Mersana Therapeutics has a 12 month low of $5.21 and a 12 month high of $36.25. The company has a market cap of $145.37 million, a P/E ratio of -2.10 and a beta of 0.44. The business’s 50 day moving average is $28.02 and its two-hundred day moving average is $14.99.

Mersana Therapeutics (NASDAQ:MRSN) last posted its quarterly earnings data on Friday, November 14th. The company reported ($1.51) earnings per share for the quarter, missing the consensus estimate of ($1.44) by ($0.07). The firm had revenue of $11.01 million during the quarter, compared to the consensus estimate of $14.20 million. Sell-side analysts expect that Mersana Therapeutics will post -0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mersana Therapeutics

A number of hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in Mersana Therapeutics by 156.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 130,094 shares of the company’s stock valued at $39,000 after buying an additional 79,390 shares in the last quarter. Invesco Ltd. raised its stake in Mersana Therapeutics by 109.3% during 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. Marshall Wace LLP bought a new position in shares of Mersana Therapeutics during the second quarter valued at $68,000. Cerity Partners LLC boosted its stake in shares of Mersana Therapeutics by 31.4% in the 2nd quarter. Cerity Partners LLC now owns 320,805 shares of the company’s stock valued at $95,000 after purchasing an additional 76,570 shares in the last quarter. Finally, Voleon Capital Management LP acquired a new stake in shares of Mersana Therapeutics in the 3rd quarter valued at $102,000. 93.92% of the stock is owned by institutional investors and hedge funds.

About Mersana Therapeutics

Mersana Therapeutics, Inc is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the development of innovative antibody-drug conjugates (ADCs) for the treatment of cancer. Since its founding in 2003, Mersana has leveraged its proprietary Fleximer® platform to engineer next-generation ADCs that aim to improve the therapeutic index by enhancing drug delivery to tumor cells while minimizing systemic toxicity. The company’s research efforts are centered on creating highly potent payloads linked to antibodies that selectively target tumor-associated antigens.

The Fleximer platform enables site-specific conjugation of multiple payload molecules, offering adjustable drug-to-antibody ratios and controlled release characteristics.