Research Analysts Offer Predictions for MRSN FY2024 Earnings

Mersana Therapeutics, Inc. (NASDAQ:MRSN) – Research analysts at Leerink Partnrs raised their FY2024 EPS estimates for shares of Mersana Therapeutics in a research report issued on Wednesday, November 13th. Leerink Partnrs analyst J. Chang now expects that the company will post earnings per share of ($0.57) for the year, up from their prior forecast of ($0.62). The consensus estimate for Mersana Therapeutics’ current full-year earnings is ($0.66) per share. Leerink Partnrs also issued estimates for Mersana Therapeutics’ FY2025 earnings at ($0.46) EPS.

MRSN has been the topic of a number of other research reports. Robert W. Baird dropped their price objective on Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Lifesci Capital upgraded shares of Mersana Therapeutics to a “strong-buy” rating in a report on Monday, July 29th. Finally, Citigroup began coverage on shares of Mersana Therapeutics in a research note on Friday. They issued a “buy” rating and a $5.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.00.

Mersana Therapeutics Stock Performance

NASDAQ MRSN opened at $2.21 on Monday. The stock has a market capitalization of $273.01 million, a price-to-earnings ratio of -3.62 and a beta of 1.50. The business’s 50 day moving average is $2.03 and its two-hundred day moving average is $2.05. Mersana Therapeutics has a 12-month low of $1.22 and a 12-month high of $6.28. The company has a current ratio of 2.35, a quick ratio of 2.72 and a debt-to-equity ratio of 13.35.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings results on Wednesday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping 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 business’s revenue was up 63.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.35) earnings per share.

Insiders Place Their Bets

In related news, CEO Martin H. Jr. Huber sold 50,423 shares of the firm’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 transaction of $88,744.48. Following the sale, the chief executive officer now owns 116,327 shares in the company, valued at approximately $204,735.52. This trade represents a 30.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 70,849 shares of company stock valued at $129,184. Corporate insiders own 11.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC increased its stake 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 purchasing an additional 293,115 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Mersana Therapeutics in the first quarter worth approximately $226,000. Vanguard Group Inc. boosted its position in shares of Mersana Therapeutics by 0.6% in the first quarter. Vanguard Group Inc. now owns 6,274,370 shares of the company’s stock worth $28,109,000 after acquiring an additional 36,782 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Mersana Therapeutics by 976.7% in the first quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company’s stock valued at $42,000 after purchasing an additional 8,575 shares during the period. Finally, Federated Hermes Inc. raised its stake in Mersana Therapeutics by 105,301.7% during the second quarter. Federated Hermes Inc. now owns 185,507 shares of the company’s stock worth $373,000 after purchasing an additional 185,331 shares during the period. Hedge funds and other 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.