Cowen reaffirmed their buy rating on shares of Mersana Therapeutics (NASDAQ:MRSN) in a report issued on Monday, AnalystRatings.com reports.
Several other analysts have also recently commented on the stock. ValuEngine cut shares of Mersana Therapeutics from a buy rating to a hold rating in a report on Saturday, December 21st. BidaskClub upgraded shares of Mersana Therapeutics from a buy rating to a strong-buy rating in a report on Friday, December 27th. Zacks Investment Research upgraded shares of Mersana Therapeutics from a hold rating to a buy rating and set a $6.00 price target for the company in a report on Wednesday, January 8th. Finally, HC Wainwright restated a buy rating and set a $7.00 price target on shares of Mersana Therapeutics in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Mersana Therapeutics has an average rating of Hold and a consensus target price of $8.33.
MRSN stock opened at $6.16 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.12 and a current ratio of 5.12. The firm has a 50 day simple moving average of $4.75 and a 200 day simple moving average of $3.15. Mersana Therapeutics has a 52 week low of $1.32 and a 52 week high of $7.65.
Mersana Therapeutics (NASDAQ:MRSN) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.02. The business had revenue of $0.84 million during the quarter, compared to analysts’ expectations of $0.50 million. Mersana Therapeutics had a negative net margin of 79.49% and a negative return on equity of 41.14%. On average, sell-side analysts forecast that Mersana Therapeutics will post -0.59 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of MRSN. Boxer Capital LLC acquired a new stake in shares of Mersana Therapeutics during the second quarter worth approximately $8,440,000. BlackRock Inc. lifted its stake in Mersana Therapeutics by 166.2% in the second quarter. BlackRock Inc. now owns 2,390,463 shares of the company’s stock valued at $9,681,000 after acquiring an additional 1,492,618 shares during the last quarter. Vanguard Group Inc. lifted its stake in Mersana Therapeutics by 26.9% in the second quarter. Vanguard Group Inc. now owns 1,903,502 shares of the company’s stock valued at $7,709,000 after acquiring an additional 403,011 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Mersana Therapeutics in the second quarter valued at approximately $676,000. Finally, Millennium Management LLC lifted its stake in Mersana Therapeutics by 136.0% in the third quarter. Millennium Management LLC now owns 42,524 shares of the company’s stock valued at $67,000 after acquiring an additional 160,624 shares during the last quarter. Institutional investors and hedge funds own 80.37% of the company’s stock.
Mersana Therapeutics Company Profile
Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of antibody drug conjugate (ADC) for cancer patients with unmet need. The company develops Dolaflexin, a platform, which is used to generate a pipeline of proprietary ADC product candidates to address patient populations that are not amenable to treat with traditional ADC-based therapies.
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