Mersana Therapeutics (NASDAQ:MRSN) Coverage Initiated at William Blair

Stock analysts at William Blair assumed coverage on shares of Mersana Therapeutics (NASDAQ:MRSN) in a research note issued to investors on Thursday, MarketBeat reports. The brokerage set an “outperform” rating on the stock.

Several other brokerages also recently issued reports on MRSN. Wedbush reaffirmed an “outperform” rating and issued a $4.00 price target (down previously from $7.00) on shares of Mersana Therapeutics in a report on Friday, January 10th. Citigroup initiated coverage on shares of Mersana Therapeutics in a report on Friday, November 15th. They issued a “buy” rating and a $5.00 price target on the stock. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Mersana Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $5.57.

Mersana Therapeutics Trading Up 9.7 %

Shares of MRSN opened at $0.75 on Thursday. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 13.35. The firm’s 50-day moving average is $1.36 and its two-hundred day moving average is $1.70. Mersana Therapeutics has a twelve month low of $0.49 and a twelve month high of $6.28. The firm has a market capitalization of $92.65 million, a P/E ratio of -1.23 and a beta of 1.40.

Mersana Therapeutics (NASDAQ:MRSN) last issued its earnings results on Wednesday, November 13th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.08. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. The company had revenue of $12.60 million for the quarter, compared to analyst estimates of $7.53 million. During the same period in the prior year, the business posted ($0.35) earnings per share. The firm’s revenue for the quarter was up 63.6% compared to the same quarter last year. On average, research analysts predict that Mersana Therapeutics will post -0.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mersana Therapeutics

Several large investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC increased its position in shares of Mersana Therapeutics by 8.1% in the third quarter. Los Angeles Capital Management LLC now owns 189,660 shares of the company’s stock worth $358,000 after acquiring an additional 14,240 shares in the last quarter. US Bancorp DE acquired a new stake in shares of Mersana Therapeutics in the third quarter worth $31,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Mersana Therapeutics in the third quarter worth $34,000. SG Americas Securities LLC increased its position in shares of Mersana Therapeutics by 28.7% in the fourth quarter. SG Americas Securities LLC now owns 112,291 shares of the company’s stock worth $161,000 after acquiring an additional 25,058 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Mersana Therapeutics in the fourth quarter worth $37,000. Institutional investors and hedge funds own 93.92% of the company’s stock.

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.