Mersana Therapeutics, Inc. (NASDAQ:MRSN) Receives $6.00 Average Price Target from 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 firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $6.00.

A number of research firms have weighed in on MRSN. Citigroup reduced their target price on Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Lifesci Capital raised shares of Mersana Therapeutics to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Robert W. Baird decreased their target price on shares of Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th.

Mersana Therapeutics Stock Performance

NASDAQ MRSN opened at $2.11 on Monday. The firm has a market cap of $258.18 million, a P/E ratio of -1.85 and a beta of 1.49. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 2.02. The company’s 50 day moving average is $1.72 and its 200-day moving average is $2.29. Mersana Therapeutics has a 12-month low of $1.07 and a 12-month high of $6.28.

Mersana Therapeutics (NASDAQ:MRSN) last posted its earnings results 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 return on equity of 333.91% and a negative net margin of 349.98%. The company had revenue of $2.30 million for the quarter, compared to analysts’ expectations of $8.72 million. During the same quarter in the prior year, the company earned ($0.47) EPS. The company’s revenue was down 78.3% on a year-over-year basis. Sell-side analysts predict that Mersana Therapeutics will post -0.71 earnings per share for the current year.

Insider Activity at Mersana Therapeutics

In other Mersana Therapeutics news, CEO Martin H. Jr. Huber sold 50,423 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $1.76, for a total value of $88,744.48. Following the completion of the transaction, the chief executive officer now owns 116,327 shares of the company’s stock, valued at $204,735.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 68,965 shares of company stock valued at $125,605 over the last three months. 11.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mersana Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Mersana Therapeutics by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 79,932 shares of the company’s stock valued at $359,000 after buying an additional 4,962 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Mersana Therapeutics by 976.7% in 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 last quarter. Renaissance Technologies LLC lifted 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 worth $2,911,000 after acquiring an additional 20,400 shares during the last quarter. ClariVest Asset Management LLC boosted its stake in shares of Mersana Therapeutics by 6.1% in the 2nd quarter. ClariVest Asset Management LLC now owns 500,498 shares of the company’s stock valued at $1,006,000 after purchasing an additional 28,650 shares in the last quarter. Finally, Walleye Trading LLC bought a new position in shares of Mersana Therapeutics during the 1st quarter valued at $141,000. Institutional investors 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.