Wedbush Reiterates Outperform Rating for Mersana Therapeutics (NASDAQ:MRSN)

Mersana Therapeutics (NASDAQ:MRSN)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a report issued on Friday,RTT News reports. They presently have a $4.00 price objective on the stock, down from their prior price objective of $7.00. Wedbush’s price objective would indicate a potential upside of 455.56% from the stock’s current price.

Separately, Citigroup initiated coverage on shares of Mersana Therapeutics in a research note on Friday, November 15th. They issued a “buy” rating and a $5.00 price target on the stock. 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. According to data from MarketBeat.com, Mersana Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.57.

Mersana Therapeutics Trading Down 44.6 %

MRSN opened at $0.72 on Friday. Mersana Therapeutics has a 12 month low of $0.69 and a 12 month high of $6.28. The stock has a market capitalization of $88.94 million, a price-to-earnings ratio of -1.18 and a beta of 1.43. 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 business has a fifty day moving average price of $1.97 and a 200 day moving average price of $1.88.

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

Institutional Investors Weigh In On Mersana Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. grew its stake in shares of Mersana Therapeutics by 104.5% in the 3rd 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 last quarter. 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 worth $5,151,000 after buying an additional 43,339 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Mersana Therapeutics by 186.0% in the 3rd quarter. XTX Topco Ltd now owns 347,255 shares of the company’s stock worth $656,000 after acquiring an additional 225,823 shares during the period. Barclays PLC boosted its holdings in shares of Mersana Therapeutics by 32.7% in the third quarter. Barclays PLC now owns 494,516 shares of the company’s stock valued at $934,000 after acquiring an additional 121,799 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Mersana Therapeutics by 13.2% in the third quarter. FMR LLC now owns 277,740 shares of the company’s stock valued at $525,000 after acquiring an additional 32,332 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.