Mersana Therapeutics’ (MRSN) “Neutral” Rating Reaffirmed at BTIG Research

Mersana Therapeutics (NASDAQ:MRSN)‘s stock had its “neutral” rating reiterated by research analysts at BTIG Research in a research note issued to investors on Thursday,Benzinga reports.

Several other research analysts also recently weighed in on MRSN. Guggenheim lowered their price objective on shares of Mersana Therapeutics from $125.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Mersana Therapeutics in a report on Wednesday, October 8th. Truist Financial dropped their price target on shares of Mersana Therapeutics from $250.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, August 14th. Finally, Wall Street Zen lowered Mersana Therapeutics to a “strong sell” rating in a report on Saturday, August 2nd. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Mersana Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $56.60.

Mersana Therapeutics Price Performance

Shares of MRSN traded up $18.46 during trading hours on Thursday, hitting $27.33. The stock had a trading volume of 2,653,436 shares, compared to its average volume of 143,775. The firm has a 50 day simple moving average of $8.51 and a 200-day simple moving average of $8.37. Mersana Therapeutics has a 1-year low of $5.21 and a 1-year high of $70.73. The firm has a market capitalization of $136.38 million, a P/E ratio of -1.87 and a beta of 0.92.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($4.08) EPS for the quarter, missing the consensus estimate of ($3.75) by ($0.33). The firm had revenue of $3.06 million during the quarter, compared to analysts’ expectations of $6.06 million. Equities analysts predict that Mersana Therapeutics will post -0.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Mersana Therapeutics

Several large investors have recently made changes to their positions in the business. Invesco Ltd. boosted its stake in Mersana Therapeutics by 109.3% in the first quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock valued at $40,000 after acquiring an additional 59,991 shares during the last quarter. JPMorgan Chase & Co. raised 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 purchasing an additional 79,390 shares during the period. Algert Global LLC raised its holdings in shares of Mersana Therapeutics by 124.7% in the 1st quarter. Algert Global LLC now owns 135,013 shares of the company’s stock worth $46,000 after purchasing an additional 74,930 shares during the period. CWM LLC lifted its stake in Mersana Therapeutics by 102,580.6% in the first quarter. CWM LLC now owns 184,825 shares of the company’s stock valued at $64,000 after purchasing an additional 184,645 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Mersana Therapeutics during the second quarter valued at $68,000. 93.92% of the stock is owned by hedge funds and other institutional investors.

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.