Leerink Partnrs Issues Optimistic Forecast for MRSN Earnings

Mersana Therapeutics, Inc. (NASDAQ:MRSN) – Research analysts at Leerink Partnrs lifted their FY2024 earnings per share (EPS) estimates for Mersana Therapeutics in a report issued on Wednesday, November 13th. Leerink Partnrs analyst J. Chang now anticipates that the company will post earnings per share of ($0.57) for the year, up from their previous forecast of ($0.62). The consensus estimate for Mersana Therapeutics’ current full-year earnings is ($0.66) per share. Leerink Partnrs also issued estimates for Mersana Therapeutics’ FY2025 earnings at ($0.46) EPS.

Mersana Therapeutics (NASDAQ:MRSN) last announced its earnings results on Wednesday, November 13th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.08. The company had revenue of $12.60 million during the quarter, compared to analysts’ expectations of $7.53 million. Mersana Therapeutics had a negative return on equity of 401.37% and a negative net margin of 214.20%. Mersana Therapeutics’s revenue for the quarter was up 63.6% on a year-over-year basis. During the same period last year, the business posted ($0.35) EPS.

MRSN has been the topic of a number of other reports. Robert W. Baird reduced their target price on shares of Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Lifesci Capital upgraded Mersana Therapeutics to a “strong-buy” rating in a research note on Monday, July 29th. Finally, Citigroup began coverage on Mersana Therapeutics in a research note on Friday. They set a “buy” rating and a $5.00 target price for the company. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Mersana Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

Mersana Therapeutics Trading Down 4.5 %

NASDAQ MRSN opened at $2.11 on Monday. The company has a debt-to-equity ratio of 13.35, a quick ratio of 2.72 and a current ratio of 2.35. The firm has a market cap of $260.65 million, a price-to-earnings ratio of -3.46 and a beta of 1.50. The firm has a 50 day simple moving average of $2.05 and a 200-day simple moving average of $2.04. Mersana Therapeutics has a one year low of $1.22 and a one year high of $6.28.

Institutional Trading of Mersana Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its holdings in shares of Mersana Therapeutics by 166.7% in the first quarter. Acadian Asset Management LLC now owns 468,923 shares of the company’s stock valued at $2,099,000 after purchasing an additional 293,115 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Mersana Therapeutics in the 1st quarter valued at $226,000. Vanguard Group Inc. grew its position in Mersana Therapeutics by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,274,370 shares of the company’s stock valued at $28,109,000 after buying an additional 36,782 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Mersana Therapeutics by 976.7% in the 1st quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company’s stock valued at $42,000 after buying an additional 8,575 shares during the period. Finally, Federated Hermes Inc. raised its position in Mersana Therapeutics by 105,301.7% during the 2nd quarter. Federated Hermes Inc. now owns 185,507 shares of the company’s stock worth $373,000 after buying an additional 185,331 shares during the last quarter. 93.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Martin H. Jr. Huber sold 50,423 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $1.76, for a total transaction of $88,744.48. Following the completion of the sale, the chief executive officer now owns 116,327 shares in the company, valued at $204,735.52. This represents a 30.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 70,849 shares of company stock worth $129,184 in the last quarter. 11.80% of the stock is owned by insiders.

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.