Analysts Set Mersana Therapeutics, Inc. (NASDAQ:MRSN) Target Price at $6.29

Mersana Therapeutics, Inc. (NASDAQ:MRSN - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $6.29.

A number of research firms have recently commented on MRSN. JPMorgan Chase & Co. upgraded Mersana Therapeutics from an "underweight" rating to a "neutral" rating and set a $5.00 target price on the stock in a research note on Tuesday, March 19th. Truist Financial raised shares of Mersana Therapeutics from a "hold" rating to a "buy" rating and set a $9.00 price target on the stock in a report on Thursday, February 29th. Robert W. Baird increased their price objective on Mersana Therapeutics from $1.00 to $5.00 and gave the company a "neutral" rating in a report on Thursday, February 29th. Wedbush upgraded Mersana Therapeutics from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $2.00 to $7.00 in a research note on Thursday, February 29th. Finally, BTIG Research raised 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.

Mersana Therapeutics Stock Down 0.4 %

Shares of MRSN stock traded down $0.01 on Tuesday, hitting $2.61. The stock had a trading volume of 5,056,411 shares, compared to its average volume of 2,168,159. Mersana Therapeutics has a 12-month low of $0.80 and a 12-month high of $9.62. The stock has a market cap of $319.36 million, a price-to-earnings ratio of -2.30 and a beta of 1.61. The business has a 50 day moving average of $4.10 and a 200 day moving average of $3.12. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.51 and a quick ratio of 3.51.

Mersana Therapeutics (NASDAQ:MRSN - Get Free Report) last announced its earnings results on Thursday, May 9th. The company reported ($0.16) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.02. The firm had revenue of $9.25 million for the quarter, compared to the consensus estimate of $8.50 million. Mersana Therapeutics had a negative return on equity of 260.65% and a negative net margin of 352.01%. The company's revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.52) EPS. As a group, analysts expect that Mersana Therapeutics will post -0.6 EPS for the current year.

Hedge Funds Weigh In On Mersana Therapeutics

A number of large investors have recently made changes to their positions in the stock. Fox Run Management L.L.C. bought a new position in Mersana Therapeutics in the 3rd quarter worth about $28,000. Victory Capital Management Inc. purchased a new stake in Mersana Therapeutics in the 4th quarter worth approximately $30,000. Nisa Investment Advisors LLC boosted its holdings in Mersana Therapeutics by 479.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 17,643 shares of the company's stock valued at $41,000 after purchasing an additional 14,600 shares during the period. Russell Investments Group Ltd. grew its position in shares of Mersana Therapeutics by 976.7% during the 1st quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company's stock valued at $42,000 after purchasing an additional 8,575 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Mersana Therapeutics during the 3rd quarter valued at $59,000. 93.92% of the stock is 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.