Mersana Therapeutics, Inc. (NASDAQ:MRSN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $6.00.

MRSN has been the subject of a number of analyst reports. Lifesci Capital raised Mersana Therapeutics to a “strong-buy” rating in a research note on Monday, July 29th. Citigroup dropped their price objective on Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Finally, Robert W. Baird dropped their price objective on Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th.

Insiders Place Their Bets

In other Mersana Therapeutics news, CEO Martin H. Jr. Huber sold 50,423 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $1.76, for a total transaction 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 $204,735.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 11.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mersana Therapeutics

Several hedge funds have recently bought and sold shares of MRSN. Victory Capital Management Inc. acquired a new stake in shares of Mersana Therapeutics during the fourth quarter worth $30,000. Russell Investments Group Ltd. boosted its holdings in shares of Mersana Therapeutics by 976.7% during the first quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company’s stock worth $42,000 after purchasing an additional 8,575 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Mersana Therapeutics during the second quarter worth $90,000. Walleye Trading LLC acquired a new stake in shares of Mersana Therapeutics during the first quarter worth $141,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Mersana Therapeutics during the first quarter worth $226,000. Hedge funds and other institutional investors own 93.92% of the company’s stock.

Mersana Therapeutics Stock Performance

Shares of MRSN stock opened at $2.12 on Thursday. The company has a market cap of $259.41 million, a price-to-earnings ratio of -1.86 and a beta of 1.47. The stock has a 50 day simple moving average of $1.71 and a 200-day simple moving average of $2.73. Mersana Therapeutics has a 12-month low of $1.07 and a 12-month high of $6.28. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 2.02.

Mersana Therapeutics (NASDAQ:MRSN) last issued its earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The business had revenue of $2.30 million for the quarter, compared to analysts’ expectations of $8.72 million. Mersana Therapeutics had a negative return on equity of 333.91% and a negative net margin of 349.98%. The business’s quarterly revenue was down 78.3% on a year-over-year basis. During the same period last year, the company posted ($0.47) earnings per share. On average, equities analysts forecast that Mersana Therapeutics will post -0.72 EPS for the current year.

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.