Lifesci Capital Downgrades Mersana Therapeutics (NASDAQ:MRSN) to Hold

Mersana Therapeutics (NASDAQ:MRSN) was downgraded by research analysts at Lifesci Capital from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Guggenheim reissued a “neutral” rating on shares of Mersana Therapeutics in a report on Friday. BTIG Research lowered shares of Mersana Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday. Truist Financial downgraded shares of Mersana Therapeutics from a “buy” rating to a “hold” rating and cut their price target for the company from $36.00 to $30.75 in a report on Thursday. Wedbush lowered shares of Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Finally, William Blair cut shares of Mersana Therapeutics from a “strong-buy” rating to a “market perform” rating in a report on Thursday. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $38.19.

Mersana Therapeutics Price Performance

Shares of NASDAQ:MRSN traded up $0.49 during trading on Thursday, hitting $27.92. 419,769 shares of the company were exchanged, compared to its average volume of 194,946. Mersana Therapeutics has a 52-week low of $5.21 and a 52-week high of $70.73. The stock has a 50 day moving average of $9.34 and a 200 day moving average of $8.63. The company has a market cap of $139.35 million, a PE ratio of -1.91 and a beta of 0.92.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings data on Friday, November 14th. The company reported ($1.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.44) by ($0.07). The company had revenue of $11.01 million during the quarter, compared to the consensus estimate of $14.20 million. Sell-side analysts forecast that Mersana Therapeutics will post -0.62 EPS for the current fiscal year.

Institutional Trading of Mersana Therapeutics

A number of hedge funds have recently made changes to their positions in MRSN. JPMorgan Chase & Co. grew its position in Mersana Therapeutics by 156.6% in the second quarter. JPMorgan Chase & Co. now owns 130,094 shares of the company’s stock worth $39,000 after acquiring an additional 79,390 shares in the last quarter. Invesco Ltd. lifted its stake in Mersana Therapeutics by 109.3% during the first quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock worth $40,000 after purchasing an additional 59,991 shares during the last quarter. Algert Global LLC boosted 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 in the last quarter. CWM LLC boosted its holdings in shares of Mersana Therapeutics by 102,580.6% in the 1st quarter. CWM LLC now owns 184,825 shares of the company’s stock worth $64,000 after purchasing an additional 184,645 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Mersana Therapeutics during the 2nd quarter valued at about $68,000. 93.92% of the stock is owned by 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.