Mersana Therapeutics (NASDAQ:MRSN) Now Covered by William Blair

Stock analysts at William Blair initiated coverage on shares of Mersana Therapeutics (NASDAQ:MRSN) in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage set an “outperform” rating on the stock.

MRSN has been the topic of a number of other reports. Wedbush reiterated an “outperform” rating and set a $4.00 price objective (down from $7.00) on shares of Mersana Therapeutics in a research note on Friday, January 10th. Citigroup started coverage on shares of Mersana Therapeutics in a research note on Friday, November 15th. They set a “buy” rating and a $5.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.57.

Mersana Therapeutics Price Performance

MRSN opened at $0.75 on Thursday. The company has a fifty day simple moving average of $1.36 and a 200 day simple moving average of $1.70. The firm has a market cap of $92.65 million, a price-to-earnings ratio of -1.23 and a beta of 1.40. Mersana Therapeutics has a twelve month low of $0.49 and a twelve month high of $6.28. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 13.35.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Wednesday, November 13th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.08. The business had revenue of $12.60 million during the quarter, compared to analyst estimates of $7.53 million. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. The business’s revenue was up 63.6% on a year-over-year basis. During the same period last year, the business earned ($0.35) EPS. Equities research analysts expect that Mersana Therapeutics will post -0.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Verition Fund Management LLC lifted its position in Mersana Therapeutics by 11,695.2% in the 3rd quarter. Verition Fund Management LLC now owns 1,303,249 shares of the company’s stock valued at $2,463,000 after purchasing an additional 1,292,200 shares during the last quarter. Exome Asset Management LLC bought a new stake in Mersana Therapeutics in the 3rd quarter valued at about $2,227,000. Jacobs Levy Equity Management Inc. lifted its position in Mersana Therapeutics by 104.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 993,046 shares of the company’s stock valued at $1,877,000 after purchasing an additional 507,453 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Mersana Therapeutics by 18.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,351,359 shares of the company’s stock valued at $4,444,000 after purchasing an additional 374,460 shares during the last quarter. Finally, HealthInvest Partners AB lifted its position in Mersana Therapeutics by 191.3% in the 3rd quarter. HealthInvest Partners AB now owns 538,621 shares of the company’s stock valued at $1,018,000 after purchasing an additional 353,721 shares during the last quarter. 93.92% of the stock is currently owned by 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.