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

Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $6.00.

A number of research firms have recently issued reports on MRSN. Robert W. Baird reduced their price target on shares of Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Lifesci Capital upgraded Mersana Therapeutics to a “strong-buy” rating in a report on Monday, July 29th. Finally, Citigroup lowered their target price on Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday.

Mersana Therapeutics Stock Performance

MRSN opened at $1.52 on Friday. The business has a fifty day simple moving average of $1.79 and a 200-day simple moving average of $2.97. The firm has a market cap of $185.99 million, a PE ratio of -1.33 and a beta of 1.55. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 0.72. Mersana Therapeutics has a fifty-two week low of $1.07 and a fifty-two week high of $6.28.

Mersana Therapeutics (NASDAQ:MRSN) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.03). Mersana Therapeutics had a negative return on equity of 260.65% and a negative net margin of 352.01%. The firm had revenue of $2.30 million for the quarter, compared to analysts’ expectations of $8.72 million. During the same quarter in the previous year, the firm posted ($0.47) earnings per share. The company’s revenue for the quarter was down 78.3% on a year-over-year basis. As a group, equities analysts predict that Mersana Therapeutics will post -0.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Mersana Therapeutics

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Mersana Therapeutics by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,274,370 shares of the company’s stock valued at $28,109,000 after acquiring an additional 36,782 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Mersana Therapeutics by 1.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,448,219 shares of the company’s stock valued at $2,911,000 after acquiring an additional 20,400 shares in the last quarter. ClariVest Asset Management LLC raised its holdings in Mersana Therapeutics by 6.1% during the second quarter. ClariVest Asset Management LLC now owns 500,498 shares of the company’s stock worth $1,006,000 after acquiring an additional 28,650 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Mersana Therapeutics by 166.7% during the 1st quarter. Acadian Asset Management LLC now owns 468,923 shares of the company’s stock worth $2,099,000 after purchasing an additional 293,115 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Mersana Therapeutics by 19.6% during the second quarter. Bank of New York Mellon Corp now owns 452,829 shares of the company’s stock worth $910,000 after buying an additional 74,092 shares during the last quarter. 93.92% of the stock is owned by institutional investors and hedge funds.

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.