Mersana Therapeutics, Inc. (NASDAQ:MRSN – Get Free Report) 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.
Read Our Latest Stock Analysis on Mersana Therapeutics
Mersana Therapeutics Stock Performance
Mersana Therapeutics (NASDAQ:MRSN – Get Free Report) 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.
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