Research Analysts Set Expectations for MRSN FY2024 Earnings

Mersana Therapeutics, Inc. (NASDAQ:MRSN) – Equities researchers at Wedbush raised their FY2024 EPS estimates for shares of Mersana Therapeutics in a research report issued on Wednesday, November 13th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings per share of ($0.66) for the year, up from their prior 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 research firms have also weighed in on MRSN. Lifesci Capital upgraded Mersana Therapeutics to a “strong-buy” rating in a report on Monday, July 29th. Citigroup assumed coverage on shares of Mersana Therapeutics in a research report on Friday. They set a “buy” rating and a $5.00 price objective on the stock. Finally, Robert W. Baird lowered their target price on shares of Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Mersana Therapeutics has an average rating of “Moderate Buy” and an average price target of $6.00.

Mersana Therapeutics Price Performance

NASDAQ:MRSN opened at $2.11 on Monday. The firm has a market capitalization of $260.65 million, a price-to-earnings ratio of -3.46 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 2.72. The business has a 50 day simple moving average of $2.05 and a 200-day simple moving average of $2.04. Mersana Therapeutics has a 1 year low of $1.22 and a 1 year 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, beating analysts’ consensus estimates 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 firm had revenue of $12.60 million during the quarter, compared to the consensus estimate of $7.53 million. During the same quarter last year, the firm earned ($0.35) EPS. The firm’s revenue for the quarter was up 63.6% compared to the same quarter last year.

Institutional Investors Weigh In On Mersana Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Mersana Therapeutics by 0.6% in the first quarter. Vanguard Group Inc. now owns 6,274,370 shares of the company’s stock valued at $28,109,000 after acquiring an additional 36,782 shares in the last quarter. State Street Corp increased its position in Mersana Therapeutics by 1.6% during the 3rd quarter. State Street Corp now owns 2,725,394 shares of the company’s stock valued at $5,151,000 after purchasing an additional 43,339 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Mersana Therapeutics by 1.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,448,219 shares of the company’s stock valued at $2,911,000 after purchasing an additional 20,400 shares in the last quarter. Verition Fund Management LLC raised its holdings in shares of Mersana Therapeutics by 11,695.2% in the 3rd quarter. Verition Fund Management LLC now owns 1,303,249 shares of the company’s stock valued at $2,463,000 after purchasing an additional 1,292,200 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Mersana Therapeutics by 104.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 993,046 shares of the company’s stock worth $1,877,000 after purchasing an additional 507,453 shares during the period. 93.92% of the stock is owned by institutional investors.

Insider Transactions at Mersana Therapeutics

In other Mersana Therapeutics news, CEO Martin H. Jr. Huber sold 50,423 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $1.76, for a total value of $88,744.48. Following the transaction, the chief executive officer now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 70,849 shares of company stock worth $129,184. 11.80% of the stock is currently 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.