Mersana Therapeutics (NASDAQ:MRSN) Rating Lowered to “Hold” at Guggenheim

Mersana Therapeutics (NASDAQ:MRSN) was downgraded by equities research analysts at Guggenheim from a “buy” rating to a “hold” rating in a report issued on Friday, MarketBeat Ratings reports.

Several other research analysts also recently weighed in on MRSN. Wall Street Zen downgraded Mersana Therapeutics to a “strong sell” rating in a research note on Saturday, August 2nd. William Blair cut shares of Mersana Therapeutics from a “strong-buy” rating to a “market perform” rating in a research note on Thursday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mersana Therapeutics in a report on Wednesday, October 8th. BTIG Research downgraded shares of Mersana Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Wedbush cut Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $38.19.

Mersana Therapeutics Stock Performance

Shares of MRSN stock opened at $27.92 on Friday. The stock has a fifty day simple moving average of $9.34 and a two-hundred day simple moving average of $8.63. The firm has a market capitalization of $139.32 million, a PE ratio of -2.01 and a beta of 0.92. Mersana Therapeutics has a 52-week low of $5.21 and a 52-week high of $70.73.

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

Institutional Investors Weigh In On Mersana Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of MRSN. Invesco Ltd. lifted its position in shares of 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. JPMorgan Chase & Co. increased its stake in Mersana Therapeutics by 156.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 130,094 shares of the company’s stock worth $39,000 after buying an additional 79,390 shares during the period. 683 Capital Management LLC lifted its holdings in Mersana Therapeutics by 20.6% during the 2nd quarter. 683 Capital Management LLC now owns 1,990,000 shares of the company’s stock valued at $589,000 after buying an additional 340,000 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Mersana Therapeutics in the 1st quarter valued at about $1,028,000. Finally, Jacobs Levy Equity Management Inc. grew its stake in Mersana Therapeutics by 19.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,333,124 shares of the company’s stock worth $459,000 after acquiring an additional 221,126 shares in the last quarter. 93.92% of the stock is currently owned by hedge funds and other 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.