Wedbush Raises Earnings Estimates for Mersana Therapeutics

Mersana Therapeutics, Inc. (NASDAQ:MRSN) – Equities researchers at Wedbush raised their FY2024 earnings estimates for shares of Mersana Therapeutics in a research note issued to investors on Wednesday, November 13th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings per share of ($0.66) for the year, up from their prior estimate of ($0.81). The consensus estimate for Mersana Therapeutics’ current full-year earnings is ($0.66) per share. Wedbush also issued estimates for Mersana Therapeutics’ Q4 2024 earnings at ($0.20) EPS, Q1 2025 earnings at ($0.23) EPS, Q3 2025 earnings at ($0.18) EPS, Q4 2025 earnings at ($0.18) EPS, FY2025 earnings at ($0.75) EPS, FY2026 earnings at ($0.69) EPS and FY2027 earnings at ($0.62) EPS.

Mersana Therapeutics (NASDAQ:MRSN) last posted its earnings results on Wednesday, November 13th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.08. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. The company had revenue of $12.60 million during the quarter, compared to analysts’ expectations of $7.53 million. During the same quarter in the prior year, the company posted ($0.35) earnings per share. Mersana Therapeutics’s revenue for the quarter was up 63.6% compared to the same quarter last year.

MRSN has been the topic of several other reports. Citigroup initiated coverage on Mersana Therapeutics in a research note on Friday. They set a “buy” rating and a $5.00 target price on the stock. Lifesci Capital upgraded Mersana Therapeutics to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Robert W. Baird cut their price objective 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. Two 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.00.

Mersana Therapeutics Stock Performance

Shares of MRSN stock opened at $2.11 on Monday. Mersana Therapeutics has a 12-month low of $1.22 and a 12-month high of $6.28. The business’s fifty day simple moving average is $2.05 and its 200-day simple moving average is $2.04. The company has a current ratio of 2.35, a quick ratio of 2.72 and a debt-to-equity ratio of 13.35. The company has a market cap of $260.65 million, a PE ratio of -3.46 and a beta of 1.50.

Insider Buying and Selling

In related news, CEO Martin H. Jr. Huber sold 50,423 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 116,327 shares of the company’s stock, valued at $204,735.52. This trade represents a 30.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 70,849 shares of company stock valued at $129,184 over the last quarter. 11.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mersana Therapeutics

A number of institutional investors have recently modified their holdings of MRSN. Acadian Asset Management LLC grew its holdings in Mersana Therapeutics by 166.7% during the first quarter. Acadian Asset Management LLC now owns 468,923 shares of the company’s stock worth $2,099,000 after acquiring an additional 293,115 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Mersana Therapeutics during the 1st quarter worth approximately $226,000. Vanguard Group Inc. increased its holdings in shares of Mersana Therapeutics by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 6,274,370 shares of the company’s stock valued at $28,109,000 after purchasing an additional 36,782 shares in the last quarter. Russell Investments Group Ltd. lifted its stake 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 valued at $42,000 after purchasing an additional 8,575 shares during the period. Finally, Federated Hermes Inc. boosted its holdings 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 buying an additional 185,331 shares in the last quarter. Hedge funds and other institutional investors own 93.92% of the company’s stock.

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.