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

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has earned an average rating of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $6.29.

MRSN has been the topic of a number of analyst reports. Robert W. Baird raised their target price on Mersana Therapeutics from $1.00 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Wedbush upgraded Mersana Therapeutics from a “neutral” rating to an “outperform” rating and raised their target price for the company 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 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 note 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 target price on the stock in a research note on Tuesday, March 19th.

Mersana Therapeutics Price Performance

NASDAQ:MRSN opened at $2.85 on Friday. Mersana Therapeutics has a 52 week low of $0.80 and a 52 week high of $9.62. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $345.71 million, a PE ratio of -1.90 and a beta of 1.50. The stock’s 50-day moving average price is $4.42 and its 200-day moving average price is $2.96.

Mersana Therapeutics (NASDAQ:MRSN) last posted its earnings results on Wednesday, February 28th. The company reported ($0.16) EPS for the quarter, meeting analysts’ consensus estimates of ($0.16). Mersana Therapeutics had a negative return on equity of 282.36% and a negative net margin of 465.80%. 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) EPS. The company’s quarterly revenue was down 27.1% on a year-over-year basis. As a group, equities analysts expect that Mersana Therapeutics will post -0.6 EPS for the current fiscal year.

Institutional Trading of Mersana Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Affinity Asset Advisors LLC acquired a new position in shares of Mersana Therapeutics in the third quarter worth $3,620,000. Walleye Capital LLC grew its stake in shares of Mersana Therapeutics by 1,205.0% in the third quarter. Walleye Capital LLC now owns 2,021,467 shares of the company’s stock worth $2,567,000 after acquiring an additional 1,866,568 shares in the last quarter. Newtyn Management LLC acquired a new position in shares of Mersana Therapeutics in the third quarter worth $889,000. Acadian Asset Management LLC acquired a new position in shares of Mersana Therapeutics in the third quarter worth $449,000. Finally, Readystate Asset Management LP acquired a new position in shares of Mersana Therapeutics in the fourth quarter worth $684,000. Institutional investors and hedge funds 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.