Mersana Therapeutics, Inc. (NASDAQ:MRSN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $56.60.

Several research analysts have recently weighed in on the company. Truist Financial reduced their target price on Mersana Therapeutics from $250.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, August 14th. Guggenheim cut their price target on shares of Mersana Therapeutics from $125.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Mersana Therapeutics in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Mersana Therapeutics to a “strong sell” rating in a research report on Saturday, August 2nd. Finally, BTIG Research restated a “buy” rating and set a $17.00 price target on shares of Mersana Therapeutics in a research report on Wednesday, August 13th.

Mersana Therapeutics Stock Up 3.5%

NASDAQ:MRSN opened at $8.91 on Friday. Mersana Therapeutics has a 52 week low of $5.21 and a 52 week high of $70.75. The stock’s 50-day moving average price is $8.48 and its 200-day moving average price is $8.38. The stock has a market capitalization of $44.46 million, a PE ratio of -0.61 and a beta of 0.92.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($4.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.75) by ($0.33). The company had revenue of $3.06 million during the quarter, compared to the consensus estimate of $6.06 million. Sell-side analysts expect that Mersana Therapeutics will post -0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mersana Therapeutics

A number of hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of 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 during the last quarter. Invesco Ltd. lifted its holdings in Mersana Therapeutics by 109.3% in the 1st quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock valued at $40,000 after purchasing an additional 59,991 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Mersana Therapeutics during the 1st quarter worth $45,000. Algert Global LLC boosted its stake in Mersana Therapeutics by 124.7% during 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 during the last quarter. Finally, CWM LLC grew its holdings in shares of Mersana Therapeutics by 102,580.6% during the first quarter. CWM LLC now owns 184,825 shares of the company’s stock worth $64,000 after buying an additional 184,645 shares in the last quarter. Institutional investors and hedge funds own 93.92% of the company’s stock.

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.