Mersana Therapeutics, Inc. (NASDAQ:MRSN) Receives $6.29 Consensus Price Target from Analysts

Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $6.29.

Several research firms recently weighed in on MRSN. Truist Financial upgraded Mersana Therapeutics from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a research report on Thursday, February 29th. Robert W. Baird boosted their price objective on Mersana Therapeutics from $1.00 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. upgraded Mersana Therapeutics from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research report on Tuesday, March 19th. Wedbush upgraded Mersana Therapeutics from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $2.00 to $7.00 in a research report on Thursday, February 29th. Finally, Guggenheim upgraded Mersana Therapeutics from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Thursday, February 29th.

Mersana Therapeutics Stock Down 2.7 %

Shares of NASDAQ:MRSN opened at $3.25 on Friday. Mersana Therapeutics has a 52-week low of $0.80 and a 52-week high of $9.62. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.36 and a current ratio of 3.36. The firm has a market capitalization of $394.23 million, a P/E ratio of -2.17 and a beta of 1.50. The stock has a 50 day moving average price of $4.47 and a 200-day moving average price of $2.93.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.16). The firm had revenue of $10.70 million for the quarter, compared to the consensus estimate of $22.59 million. Mersana Therapeutics had a negative return on equity of 282.36% and a negative net margin of 465.80%. The company’s revenue for the quarter was down 27.1% on a year-over-year basis. During the same period last year, the business posted ($0.44) EPS. As a group, equities research analysts anticipate that Mersana Therapeutics will post -0.6 EPS for the current fiscal year.

Institutional Trading of Mersana Therapeutics

A number of large investors have recently modified their holdings of the company. Metropolitan Life Insurance Co NY increased its position in shares of Mersana Therapeutics by 36.8% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 6,508 shares of the company’s stock worth $38,000 after purchasing an additional 1,750 shares in the last quarter. Bank of New York Mellon Corp grew its position in Mersana Therapeutics by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 369,786 shares of the company’s stock worth $1,520,000 after purchasing an additional 1,757 shares during the period. Price T Rowe Associates Inc. MD grew its position in Mersana Therapeutics by 1.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 139,819 shares of the company’s stock worth $646,000 after purchasing an additional 1,785 shares during the period. American International Group Inc. boosted its stake in shares of Mersana Therapeutics by 4.9% during the 4th quarter. American International Group Inc. now owns 55,108 shares of the company’s stock worth $128,000 after acquiring an additional 2,588 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Mersana Therapeutics by 24.8% during the 2nd quarter. Principal Financial Group Inc. now owns 13,938 shares of the company’s stock worth $64,000 after acquiring an additional 2,769 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.