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

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $6.00.

Several research analysts have recently issued reports on the company. Lifesci Capital raised Mersana Therapeutics to a “strong-buy” rating in a research report on Monday, July 29th. Robert W. Baird lowered their price objective on Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Finally, Citigroup decreased their target price on Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th.

Insider Activity at Mersana Therapeutics

In other Mersana Therapeutics news, CEO Martin H. Jr. Huber sold 50,423 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $1.76, for a total transaction of $88,744.48. Following the completion of the sale, the chief executive officer now directly owns 116,327 shares of the company’s stock, valued at approximately $204,735.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 11.80% of the company’s stock.

Institutional Trading of Mersana Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in Mersana Therapeutics by 976.7% during the 1st quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company’s stock worth $42,000 after acquiring an additional 8,575 shares during the period. Victory Capital Management Inc. acquired a new stake in Mersana Therapeutics during the 4th quarter worth approximately $30,000. Walleye Trading LLC acquired a new stake in Mersana Therapeutics during the 1st quarter worth approximately $141,000. Algert Global LLC acquired a new stake in Mersana Therapeutics during the 2nd quarter worth approximately $90,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Mersana Therapeutics during the 1st quarter worth approximately $226,000. 93.92% of the stock is owned by institutional investors and hedge funds.

Mersana Therapeutics Price Performance

MRSN stock opened at $2.12 on Thursday. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 2.02. The company has a market capitalization of $259.41 million, a PE ratio of -1.86 and a beta of 1.47. Mersana Therapeutics has a 12-month low of $1.07 and a 12-month high of $6.28. The business’s fifty day moving average price is $1.71 and its 200 day moving average price is $2.73.

Mersana Therapeutics (NASDAQ:MRSN) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.03). Mersana Therapeutics had a negative net margin of 349.98% and a negative return on equity of 333.91%. The firm had revenue of $2.30 million during the quarter, compared to analysts’ expectations of $8.72 million. During the same quarter in the prior year, the firm posted ($0.47) EPS. Mersana Therapeutics’s quarterly revenue was down 78.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Mersana Therapeutics will post -0.72 EPS for the current year.

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.