Mersana Therapeutics (NASDAQ:MRSN) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Mersana Therapeutics (NASDAQ:MRSN - Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.02, Briefing.com reports. The firm had revenue of $9.25 million during the quarter, compared to analysts' expectations of $8.50 million. Mersana Therapeutics had a negative net margin of 465.80% and a negative return on equity of 282.36%. Mersana Therapeutics's revenue for the quarter was up 18.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.52) earnings per share.

Mersana Therapeutics Stock Performance

Shares of Mersana Therapeutics stock traded up $0.25 during trading on Friday, hitting $2.71. 2,807,129 shares of the stock were exchanged, compared to its average volume of 1,668,868. The stock has a market capitalization of $328.72 million, a price-to-earnings ratio of -1.81 and a beta of 1.61. The company has a current ratio of 3.36, a quick ratio of 3.36 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average price of $4.16 and a 200-day moving average price of $3.09. Mersana Therapeutics has a 1-year low of $0.80 and a 1-year high of $9.62.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MRSN. Guggenheim upgraded Mersana Therapeutics from a "neutral" rating to a "buy" rating and set a $7.00 price objective on the stock in a research note on Thursday, February 29th. Robert W. Baird increased their target price on shares of Mersana Therapeutics from $1.00 to $5.00 and gave the company a "neutral" rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. raised Mersana Therapeutics from an "underweight" rating to a "neutral" rating and set a $5.00 price target for the company in a report on Tuesday, March 19th. Wedbush raised Mersana Therapeutics from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $2.00 to $7.00 in a report on Thursday, February 29th. Finally, BTIG Research raised Mersana Therapeutics from a "neutral" rating to a "buy" rating and set a $6.00 target price for the company in a research report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $6.29.

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.

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