Wedbush reiterated their outperform rating on shares of Mersana Therapeutics (NASDAQ:MRSN – Free Report) in a research report released on Friday morning,RTT News reports. They currently have a $4.00 price objective on the stock, down from their prior price objective of $7.00.
Separately, Citigroup started coverage on Mersana Therapeutics in a report on Friday, November 15th. They issued a “buy” rating and a $5.00 price objective for the company. Two equities 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.57.
View Our Latest Report on MRSN
Mersana Therapeutics Stock Down 44.6 %
Mersana Therapeutics (NASDAQ:MRSN – Get Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.08. The business had revenue of $12.60 million for the quarter, compared to analyst estimates of $7.53 million. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. The business’s revenue for the quarter was up 63.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.35) earnings per share. On average, analysts expect that Mersana Therapeutics will post -0.61 EPS for the current fiscal year.
Institutional Trading of Mersana Therapeutics
A number of hedge funds have recently bought and sold shares of MRSN. US Bancorp DE purchased a new stake in shares of Mersana Therapeutics in the 3rd quarter valued at approximately $31,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Mersana Therapeutics in the third quarter worth $34,000. Intech Investment Management LLC purchased a new stake in shares of Mersana Therapeutics during the 3rd quarter worth about $52,000. Quarry LP bought a new position in Mersana Therapeutics during the third quarter valued at approximately $57,000. Finally, Algert Global LLC bought a new position in shares of Mersana Therapeutics during the 2nd quarter valued at $90,000. 93.92% of the stock is owned by hedge funds and other institutional investors.
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.
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