Mersana Therapeutics, Inc. (NASDAQ:MRSN) Given Average Rating of “Buy” by Analysts

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has earned an average rating of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $5.20.

A number of research firms recently weighed in on MRSN. Wedbush restated an “outperform” rating and set a $3.00 target price on shares of Mersana Therapeutics in a research note on Thursday, May 15th. Truist Financial lifted their target price on shares of Mersana Therapeutics from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Guggenheim restated a “buy” rating and set a $5.00 target price on shares of Mersana Therapeutics in a research note on Friday, May 16th. Finally, William Blair restated an “outperform” rating on shares of Mersana Therapeutics in a research note on Tuesday, June 3rd.

Mersana Therapeutics Stock Performance

MRSN opened at $0.34 on Friday. Mersana Therapeutics has a fifty-two week low of $0.26 and a fifty-two week high of $2.83. The firm’s fifty day moving average is $0.35 and its 200 day moving average is $0.53. The stock has a market cap of $42.03 million, a price-to-earnings ratio of -0.57 and a beta of 0.79.

Mersana Therapeutics (NASDAQ:MRSN) last released its earnings results on Thursday, May 15th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.02. Mersana Therapeutics had a negative net margin of 217.63% and a negative return on equity of 990.16%. The company had revenue of $2.75 million for the quarter, compared to analysts’ expectations of $6.05 million. On average, equities research analysts predict that Mersana Therapeutics will post -0.62 earnings per share for the current year.

Institutional Trading of Mersana Therapeutics

Hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new stake in Mersana Therapeutics in the 4th quarter worth $65,000. Oxford Asset Management LLP purchased a new stake in Mersana Therapeutics in the 4th quarter worth $94,000. Wells Fargo & Company MN lifted its stake in Mersana Therapeutics by 40.3% in the 4th quarter. Wells Fargo & Company MN now owns 67,483 shares of the company’s stock worth $97,000 after purchasing an additional 19,368 shares in the last quarter. Sei Investments Co. purchased a new stake in Mersana Therapeutics in the 4th quarter worth $99,000. Finally, MetLife Investment Management LLC lifted its stake in Mersana Therapeutics by 115.7% in the 4th quarter. MetLife Investment Management LLC now owns 73,150 shares of the company’s stock worth $105,000 after purchasing an additional 39,234 shares in the last quarter. 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.