Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) have received an average rating of "Buy" from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $27.80.
A number of research analysts recently issued reports on the company. SVB Leerink boosted their price objective on Mersana Therapeutics from $25.00 to $28.00 and gave the company an "outperform" rating in a research report on Monday, November 9th. Zacks Investment Research downgraded Mersana Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, January 9th. Finally, Stifel Nicolaus began coverage on Mersana Therapeutics in a research note on Wednesday, December 2nd. They issued a "buy" rating and a $33.00 price objective on the stock.
NASDAQ:MRSN opened at $19.68 on Tuesday. Mersana Therapeutics has a 12-month low of $4.12 and a 12-month high of $29.09. The firm has a market capitalization of $1.35 billion, a P/E ratio of -14.58 and a beta of 2.54. The company has a debt-to-equity ratio of 0.02, a current ratio of 13.05 and a quick ratio of 13.05. The business has a 50 day simple moving average of $20.75 and a 200 day simple moving average of $21.06.
In related news, insider Timothy B. Lowinger sold 8,203 shares of the firm's stock in a transaction that occurred on Monday, December 21st. The shares were sold at an average price of $25.60, for a total transaction of $209,996.80. Following the completion of the sale, the insider now directly owns 1,874 shares in the company, valued at $47,974.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andrew A. F. Hack purchased 250,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 12th. The shares were bought at an average price of $18.36 per share, with a total value of $4,590,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 17,198 shares of company stock valued at $404,897. Corporate insiders own 5.30% of the company's stock.
Several hedge funds have recently bought and sold shares of the stock. Truist Financial Corp boosted its holdings in shares of Mersana Therapeutics by 33.0% during the fourth quarter. Truist Financial Corp now owns 15,557 shares of the company's stock worth $414,000 after purchasing an additional 3,857 shares during the period. Silverarc Capital Management LLC acquired a new stake in shares of Mersana Therapeutics during the fourth quarter worth approximately $286,000. Squarepoint Ops LLC boosted its holdings in shares of Mersana Therapeutics by 129.4% during the fourth quarter. Squarepoint Ops LLC now owns 45,187 shares of the company's stock worth $1,202,000 after purchasing an additional 25,492 shares during the period. Tri Locum Partners LP bought a new position in Mersana Therapeutics during the fourth quarter valued at approximately $7,237,000. Finally, Nuveen Asset Management LLC raised its position in Mersana Therapeutics by 7.3% during the fourth quarter. Nuveen Asset Management LLC now owns 396,043 shares of the company's stock valued at $10,538,000 after acquiring an additional 26,857 shares in the last quarter.
Mersana Therapeutics Company Profile
Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of antibody drug conjugate (ADC) for cancer patients with unmet need. The company develops Dolaflexin, a platform, which is used to generate a pipeline of proprietary ADC product candidates to address patient populations that are not amenable to treat with traditional ADC-based therapies.
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