Analysts Set Mersana Therapeutics, Inc. (NASDAQ:MRSN) Price Target at $38.19

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has been given an average rating of “Reduce” by the eight research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $38.1875.

Several analysts have commented on the stock. Truist Financial cut shares of Mersana Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the stock from $36.00 to $30.75 in a research note on Thursday, November 13th. William Blair downgraded Mersana Therapeutics from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, November 13th. Lifesci Capital lowered Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Wedbush downgraded Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, Guggenheim cut Mersana Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, November 14th.

Mersana Therapeutics Price Performance

MRSN stock opened at $29.08 on Wednesday. Mersana Therapeutics has a 1-year low of $5.21 and a 1-year high of $36.25. The business has a 50 day simple moving average of $28.48 and a two-hundred day simple moving average of $15.45. The company has a market capitalization of $145.37 million, a price-to-earnings ratio of -2.10 and a beta of 0.44.

Mersana Therapeutics (NASDAQ:MRSN) last released its earnings results on Friday, November 14th. The company reported ($1.51) EPS for the quarter, missing the consensus estimate of ($1.44) by ($0.07). The firm had revenue of $11.01 million for the quarter, compared to analysts’ expectations of $14.20 million. Sell-side analysts anticipate that Mersana Therapeutics will post -0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Mersana Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in shares of Mersana Therapeutics by 156.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 130,094 shares of the company’s stock worth $39,000 after buying an additional 79,390 shares during the last quarter. Invesco Ltd. grew its position in Mersana Therapeutics by 109.3% in the first quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock worth $40,000 after acquiring an additional 59,991 shares in the last quarter. Marshall Wace LLP bought a new stake in Mersana Therapeutics during the second quarter worth approximately $68,000. Cerity Partners LLC increased its stake in Mersana Therapeutics by 31.4% during the second quarter. Cerity Partners LLC now owns 320,805 shares of the company’s stock worth $95,000 after acquiring an additional 76,570 shares during the last quarter. Finally, Voleon Capital Management LP purchased a new stake in Mersana Therapeutics during the third quarter valued at approximately $102,000. 93.92% of the stock is owned by hedge funds and other institutional investors.

About Mersana Therapeutics

Mersana Therapeutics, Inc is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the development of innovative antibody-drug conjugates (ADCs) for the treatment of cancer. Since its founding in 2003, Mersana has leveraged its proprietary Fleximer® platform to engineer next-generation ADCs that aim to improve the therapeutic index by enhancing drug delivery to tumor cells while minimizing systemic toxicity. The company’s research efforts are centered on creating highly potent payloads linked to antibodies that selectively target tumor-associated antigens.

The Fleximer platform enables site-specific conjugation of multiple payload molecules, offering adjustable drug-to-antibody ratios and controlled release characteristics.