Mersana Therapeutics, Inc. (NASDAQ:MRSN) Receives $6.29 Average PT from Analysts

Mersana Therapeutics, Inc. (NASDAQ:MRSN - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $6.29.

MRSN has been the topic of a number of recent research reports. Truist Financial raised shares of Mersana Therapeutics from a "hold" rating to a "buy" rating and set a $9.00 price objective on the stock in a research note on Thursday, February 29th. Guggenheim raised shares of Mersana Therapeutics from a "neutral" rating to a "buy" rating and set a $7.00 price target on the stock in a research report on Thursday, February 29th. Wedbush raised shares of Mersana Therapeutics from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $2.00 to $7.00 in a research report on Thursday, February 29th. BTIG Research raised shares of Mersana Therapeutics from a "neutral" rating to a "buy" rating and set a $6.00 price target on the stock in a research report on Thursday, February 29th. Finally, JPMorgan Chase & Co. raised shares of Mersana Therapeutics from an "underweight" rating to a "neutral" rating and set a $5.00 price target on the stock in a research report on Tuesday, March 19th.

Mersana Therapeutics Stock Performance

MRSN stock traded down $0.09 during midday trading on Friday, reaching $3.25. The company's stock had a trading volume of 2,390,240 shares, compared to its average volume of 2,208,298. Mersana Therapeutics has a 52 week low of $0.80 and a 52 week high of $9.62. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.36 and a quick ratio of 3.36. The business's 50-day simple moving average is $4.48 and its 200-day simple moving average is $2.89.

Mersana Therapeutics (NASDAQ:MRSN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.16). Mersana Therapeutics had a negative net margin of 465.80% and a negative return on equity of 282.36%. The firm had revenue of $10.70 million for the quarter, compared to analysts' expectations of $22.59 million. During the same period last year, the firm earned ($0.44) earnings per share. The business's revenue for the quarter was down 27.1% on a year-over-year basis. Analysts predict that Mersana Therapeutics will post -0.6 earnings per share for the current fiscal year.

Institutional Trading of Mersana Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Metropolitan Life Insurance Co NY boosted its holdings in shares of Mersana Therapeutics by 36.8% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 6,508 shares of the company's stock worth $38,000 after buying an additional 1,750 shares during the period. Bank of New York Mellon Corp boosted its holdings in Mersana Therapeutics by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 369,786 shares of the company's stock valued at $1,520,000 after purchasing an additional 1,757 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Mersana Therapeutics by 1.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 139,819 shares of the company's stock valued at $646,000 after purchasing an additional 1,785 shares during the period. American International Group Inc. boosted its holdings in Mersana Therapeutics by 4.9% in the 4th quarter. American International Group Inc. now owns 55,108 shares of the company's stock valued at $128,000 after purchasing an additional 2,588 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Mersana Therapeutics by 24.8% in the 2nd quarter. Principal Financial Group Inc. now owns 13,938 shares of the company's stock valued at $64,000 after purchasing an additional 2,769 shares during the period. Institutional investors 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.