Mersana Therapeutics, Inc. (NASDAQ:MRSN) Receives $6.00 Consensus Price Target from Brokerages

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has received an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $6.00.

Separately, Citigroup assumed coverage on shares of Mersana Therapeutics in a research report on Friday, November 15th. They set a “buy” rating and a $5.00 price target for the company.

Mersana Therapeutics Stock Down 0.7 %

MRSN stock opened at $1.39 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 13.35. The business has a 50 day moving average of $2.04 and a 200 day moving average of $1.91. Mersana Therapeutics has a twelve month low of $1.22 and a twelve month high of $6.28. The firm has a market cap of $171.71 million, a PE ratio of -2.28 and a beta of 1.40.

Mersana Therapeutics (NASDAQ:MRSN) last announced its quarterly earnings results on Wednesday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.08. The company had revenue of $12.60 million for the quarter, compared to analysts’ expectations of $7.53 million. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. Mersana Therapeutics’s revenue was up 63.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.35) EPS. On average, research analysts forecast that Mersana Therapeutics will post -0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Mersana Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in Mersana Therapeutics by 19.6% in the second quarter. Bank of New York Mellon Corp now owns 452,829 shares of the company’s stock worth $910,000 after purchasing an additional 74,092 shares during the last quarter. ClariVest Asset Management LLC boosted its holdings in shares of Mersana Therapeutics by 6.1% in the second quarter. ClariVest Asset Management LLC now owns 500,498 shares of the company’s stock worth $1,006,000 after buying an additional 28,650 shares during the last quarter. Federated Hermes Inc. grew its position in Mersana Therapeutics by 105,301.7% during the second quarter. Federated Hermes Inc. now owns 185,507 shares of the company’s stock valued at $373,000 after buying an additional 185,331 shares during the period. Renaissance Technologies LLC increased its holdings in Mersana Therapeutics by 1.4% during the second quarter. Renaissance Technologies LLC now owns 1,448,219 shares of the company’s stock valued at $2,911,000 after buying an additional 20,400 shares during the last quarter. Finally, XTX Topco Ltd raised its position in Mersana Therapeutics by 262.1% in the second quarter. XTX Topco Ltd now owns 121,432 shares of the company’s stock worth $244,000 after acquiring an additional 87,893 shares during the period. 93.92% of the stock is currently owned by hedge funds and other institutional investors.

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.