Mersana Therapeutics, Inc. (NASDAQ:MRSN) Receives $6.00 Average PT from Analysts

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has earned an average rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $6.00.

Separately, Citigroup started coverage on Mersana Therapeutics in a research report on Friday, November 15th. They set a “buy” rating and a $5.00 target price on the stock.

Mersana Therapeutics Stock Up 0.7 %

Shares of MRSN opened at $1.43 on Friday. The company has a debt-to-equity ratio of 13.35, a current ratio of 2.35 and a quick ratio of 2.35. The stock has a market capitalization of $176.65 million, a price-to-earnings ratio of -2.34 and a beta of 1.40. Mersana Therapeutics has a 1 year low of $1.22 and a 1 year high of $6.28. The business’s 50 day simple moving average is $2.06 and its 200-day simple moving average is $1.92.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Wednesday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.08. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. The company had revenue of $12.60 million for the quarter, compared to the consensus estimate of $7.53 million. During the same quarter in the prior year, the firm earned ($0.35) earnings per share. Mersana Therapeutics’s revenue was up 63.6% on a year-over-year basis. As a group, equities analysts expect that Mersana Therapeutics will post -0.61 earnings per share for the current fiscal year.

Institutional Trading of Mersana Therapeutics

A number of large investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Mersana Therapeutics by 104.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 993,046 shares of the company’s stock valued at $1,877,000 after purchasing an additional 507,453 shares during the period. State Street Corp raised its position in Mersana Therapeutics by 1.6% during the 3rd quarter. State Street Corp now owns 2,725,394 shares of the company’s stock valued at $5,151,000 after purchasing an additional 43,339 shares in the last quarter. XTX Topco Ltd raised its position in Mersana Therapeutics by 186.0% during the 3rd quarter. XTX Topco Ltd now owns 347,255 shares of the company’s stock valued at $656,000 after purchasing an additional 225,823 shares in the last quarter. US Bancorp DE purchased a new stake in shares of Mersana Therapeutics in the 3rd quarter worth $31,000. Finally, Federated Hermes Inc. grew its position in shares of Mersana Therapeutics by 105,301.7% during the 2nd quarter. Federated Hermes Inc. now owns 185,507 shares of the company’s stock worth $373,000 after buying an additional 185,331 shares in the last quarter. 93.92% of the stock is owned by hedge funds and other institutional investors.

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.