Mersana Therapeutics, Inc. (NASDAQ:MRSN) Receives $6.00 Consensus Price Target from Analysts

Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) have been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $6.00.

Several brokerages recently commented on MRSN. Robert W. Baird cut their price target on shares of Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Citigroup cut their price target on shares of Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Finally, Lifesci Capital raised shares of Mersana Therapeutics to a “strong-buy” rating in a report on Monday, July 29th.

Insiders Place Their Bets

In other news, CEO Martin H. Jr. Huber sold 50,423 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $1.76, for a total transaction of $88,744.48. Following the transaction, the chief executive officer now owns 116,327 shares of the company’s stock, valued at approximately $204,735.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 68,965 shares of company stock valued at $125,605 in the last 90 days. 11.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MRSN. ClariVest Asset Management LLC acquired a new position in shares of Mersana Therapeutics during the 1st quarter valued at about $2,114,000. Acadian Asset Management LLC lifted its position in Mersana Therapeutics by 166.7% in the first quarter. Acadian Asset Management LLC now owns 468,923 shares of the company’s stock valued at $2,099,000 after buying an additional 293,115 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Mersana Therapeutics in the second quarter valued at about $508,000. Susquehanna Fundamental Investments LLC acquired a new position in Mersana Therapeutics in the first quarter valued at about $1,049,000. Finally, Federated Hermes Inc. lifted its position in Mersana Therapeutics by 105,301.7% in the second quarter. Federated Hermes Inc. now owns 185,507 shares of the company’s stock valued at $373,000 after buying an additional 185,331 shares during the last quarter. Institutional investors and hedge funds own 93.92% of the company’s stock.

Mersana Therapeutics Price Performance

NASDAQ:MRSN opened at $2.10 on Monday. The firm has a market cap of $256.96 million, a price-to-earnings ratio of -1.84 and a beta of 1.49. The company has a 50 day moving average price of $1.75 and a 200-day moving average price of $2.26. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.72 and a quick ratio of 2.72. Mersana Therapeutics has a 1-year low of $1.07 and a 1-year high of $6.28.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The company had revenue of $2.30 million during the quarter, compared to analysts’ expectations of $8.72 million. Mersana Therapeutics had a negative return on equity of 333.91% and a negative net margin of 349.98%. Mersana Therapeutics’s revenue was down 78.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.47) EPS. Equities research analysts forecast that Mersana Therapeutics will post -0.71 EPS for the current year.

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.