Mersana Therapeutics (NASDAQ:MRSN) Downgraded by Leerink Partnrs to “Hold”

Leerink Partnrs lowered shares of Mersana Therapeutics (NASDAQ:MRSN) from a strong-buy rating to a hold rating in a research note released on Thursday,Zacks.com reports.

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

Mersana Therapeutics Trading Up 1.8%

MRSN stock traded up $0.49 during mid-day trading on Thursday, hitting $27.92. The stock had a trading volume of 419,769 shares, compared to its average volume of 194,946. The stock has a market capitalization of $139.35 million, a price-to-earnings ratio of -1.91 and a beta of 0.92. The company has a fifty day moving average of $9.34 and a 200 day moving average of $8.63. Mersana Therapeutics has a 1-year low of $5.21 and a 1-year high of $70.73.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings data on Friday, November 14th. The company reported ($1.51) earnings per share 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 analyst estimates of $14.20 million. As a group, sell-side analysts expect that Mersana Therapeutics will post -0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new position in Mersana Therapeutics in the first quarter valued at about $1,770,000. Acadian Asset Management LLC bought a new position in Mersana Therapeutics in the 1st quarter valued at about $1,028,000. 683 Capital Management LLC raised its position in shares of Mersana Therapeutics by 83.3% in the 1st quarter. 683 Capital Management LLC now owns 1,650,000 shares of the company’s stock valued at $568,000 after buying an additional 750,000 shares in the last quarter. Ieq Capital LLC bought a new stake in shares of Mersana Therapeutics during the 1st quarter worth approximately $243,000. Finally, Alamea Verwaltungs GmbH acquired a new stake in shares of Mersana Therapeutics in the 1st quarter valued at $208,000. Institutional investors and hedge funds own 93.92% of the company’s stock.

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.