Mersana Therapeutics’ (MRSN) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Mersana Therapeutics (NASDAQ:MRSN) in a research report sent to investors on Friday morning,RTT News reports. The brokerage currently has a $4.00 price objective on the stock, down from their previous price objective of $7.00.

Separately, Citigroup started coverage on shares of Mersana Therapeutics in a research report on Friday, November 15th. They set a “buy” rating and a $5.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Mersana Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $5.57.

Mersana Therapeutics Stock Performance

NASDAQ:MRSN opened at $0.72 on Friday. The company has a market capitalization of $88.94 million, a PE ratio of -1.18 and a beta of 1.43. The company has a 50 day simple moving average of $2.00 and a two-hundred day simple moving average of $1.89. The company has a debt-to-equity ratio of 13.35, a quick ratio of 2.35 and a current ratio of 2.35. Mersana Therapeutics has a fifty-two week low of $0.69 and a fifty-two week high of $6.28.

Mersana Therapeutics (NASDAQ:MRSN) last released its 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 the consensus estimate of $7.53 million. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. The company’s revenue for the quarter was up 63.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.35) EPS. Research analysts anticipate that Mersana Therapeutics will post -0.61 earnings per share for the current year.

Hedge Funds Weigh In On Mersana Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE bought a new position in shares of Mersana Therapeutics during the 3rd quarter worth approximately $31,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Mersana Therapeutics in the 3rd quarter worth $34,000. Intech Investment Management LLC bought a new position in shares of Mersana Therapeutics in the 3rd quarter worth $52,000. Quarry LP bought a new position in shares of Mersana Therapeutics in the 3rd quarter worth $57,000. Finally, Algert Global LLC bought a new position in shares of Mersana Therapeutics in the 2nd quarter worth $90,000. 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.