Zacks Investment Research upgraded shares of Mersana Therapeutics (NASDAQ:MRSN) from a hold rating to a buy rating in a research report released on Wednesday morning, Zacks.com reports. The firm currently has $4.50 price objective on the stock.
According to Zacks, “Mersana Therapeutics, Inc. is a biotechnology company. It focused on discovering and developing a pipeline of antibody drug conjugates. The company’s product candidates include XMT-1522 and XMT-1536 which are in clinical stage. Mersana Therapeutics, Inc. is based in CAMBRIDGE, United States. “
Separately, Cowen restated a buy rating on shares of G1 Therapeutics in a research report on Sunday, June 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $21.50.
Shares of Mersana Therapeutics stock opened at $3.97 on Wednesday. The stock has a 50-day moving average price of $4.19. Mersana Therapeutics has a fifty-two week low of $2.85 and a fifty-two week high of $17.32. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.24 and a quick ratio of 6.24.
Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.73. Mersana Therapeutics had a negative net margin of 61.68% and a negative return on equity of 57.49%. The firm had revenue of $41.04 million during the quarter, compared to the consensus estimate of $30.11 million. On average, sell-side analysts predict that Mersana Therapeutics will post -0.71 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its holdings in Mersana Therapeutics by 46.2% in the 4th quarter. Rhumbline Advisers now owns 16,102 shares of the company’s stock valued at $66,000 after acquiring an additional 5,090 shares during the last quarter. Algert Global LLC acquired a new stake in Mersana Therapeutics in the 1st quarter valued at about $110,000. Marshall Wace LLP acquired a new stake in Mersana Therapeutics in the 1st quarter valued at about $141,000. Bank of America Corp DE raised its holdings in Mersana Therapeutics by 1,409.6% in the 4th quarter. Bank of America Corp DE now owns 31,807 shares of the company’s stock valued at $129,000 after acquiring an additional 29,700 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Mersana Therapeutics by 19.2% in the 4th quarter. Bank of New York Mellon Corp now owns 39,203 shares of the company’s stock valued at $160,000 after acquiring an additional 6,306 shares during the last quarter. Hedge funds and other institutional investors own 77.40% 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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