Wedbush Expects Higher Earnings for Mersana Therapeutics

Mersana Therapeutics, Inc. (NASDAQ:MRSN) – Equities research analysts at Wedbush raised their FY2024 earnings per share (EPS) estimates for Mersana Therapeutics in a report issued on Wednesday, November 13th. Wedbush analyst D. Nierengarten now forecasts that the company will earn ($0.66) per share for the year, up from their previous forecast of ($0.81). The consensus estimate for Mersana Therapeutics’ current full-year earnings is ($0.66) per share. Wedbush also issued estimates for Mersana Therapeutics’ Q4 2024 earnings at ($0.20) EPS, Q1 2025 earnings at ($0.23) EPS, Q3 2025 earnings at ($0.18) EPS, Q4 2025 earnings at ($0.18) EPS, FY2025 earnings at ($0.75) EPS, FY2026 earnings at ($0.69) EPS and FY2027 earnings at ($0.62) EPS.

Several other equities research analysts have also commented on MRSN. Citigroup initiated coverage on Mersana Therapeutics in a research note on Friday, November 15th. They set a “buy” rating and a $5.00 price target for the company. Robert W. Baird decreased their target price on Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Finally, Lifesci Capital raised Mersana Therapeutics to a “strong-buy” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.00.

Mersana Therapeutics Stock Performance

Shares of NASDAQ:MRSN opened at $2.22 on Monday. The firm has a market capitalization of $274.24 million, a PE ratio of -3.64 and a beta of 1.50. The company has a debt-to-equity ratio of 13.35, a current ratio of 2.35 and a quick ratio of 2.35. The business has a 50-day moving average of $2.06 and a two-hundred day moving average of $2.03. Mersana Therapeutics has a 12 month low of $1.22 and a 12 month high of $6.28.

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

Insider Activity at Mersana Therapeutics

In related news, CEO Martin H. Jr. Huber sold 50,423 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $1.76, for a total value of $88,744.48. Following the completion of the transaction, the chief executive officer now owns 116,327 shares of the company’s stock, valued at approximately $204,735.52. This represents a 30.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 70,849 shares of company stock valued at $129,184. Insiders own 11.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE purchased a new position in Mersana Therapeutics in the third quarter valued at about $31,000. Dynamic Technology Lab Private Ltd acquired a new stake in Mersana Therapeutics during the third quarter valued at approximately $34,000. Russell Investments Group Ltd. raised its stake in Mersana Therapeutics by 976.7% during the first 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 in the last quarter. Intech Investment Management LLC acquired a new stake in Mersana Therapeutics during the third quarter valued at approximately $52,000. Finally, Quarry LP acquired a new stake in Mersana Therapeutics during the third quarter valued at approximately $57,000. Hedge funds and other institutional investors 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.