Mersana Therapeutics (NASDAQ:MRSN) Receives “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Mersana Therapeutics (NASDAQ:MRSN) in a report released on Monday,RTT News reports. Wedbush currently has a $4.00 target price on the stock.

Several other research firms have also commented on MRSN. Citigroup started coverage on shares of Mersana Therapeutics in a report on Friday, November 15th. They issued a “buy” rating and a $5.00 price target for the company. William Blair started coverage on Mersana Therapeutics in a research note on Thursday, February 6th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4.25.

Mersana Therapeutics Stock Performance

Mersana Therapeutics stock opened at $0.48 on Monday. Mersana Therapeutics has a 52 week low of $0.48 and a 52 week high of $6.28. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 13.35. The stock has a market cap of $59.30 million, a P/E ratio of -0.79 and a beta of 1.39. The stock has a 50 day moving average of $0.84 and a 200-day moving average of $1.57.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.05. The business had revenue of $16.36 million for the quarter, compared to analysts’ expectations of $7.71 million. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. On average, analysts expect that Mersana Therapeutics will post -0.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Mersana Therapeutics

Large investors have recently made changes to their positions in the company. US Bancorp DE bought a new position in Mersana Therapeutics in the 3rd quarter worth approximately $31,000. Dynamic Technology Lab Private Ltd acquired a new position in Mersana Therapeutics during the 3rd quarter worth $34,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Mersana Therapeutics in the fourth quarter worth $37,000. Intech Investment Management LLC acquired a new position in Mersana Therapeutics during the 3rd quarter valued at about $52,000. Finally, Quarry LP acquired a new position in Mersana Therapeutics during the 3rd quarter valued at about $57,000. Institutional investors and hedge funds own 93.92% of the company’s stock.

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.