Mersana Therapeutics (NASDAQ:MRSN) Price Target Cut to $5.00

Mersana Therapeutics (NASDAQ:MRSN) had its price objective trimmed by Citigroup from $6.00 to $5.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on the stock. Lifesci Capital raised shares of Mersana Therapeutics to a strong-buy rating in a research note on Monday, July 29th. Robert W. Baird dropped their target price on Mersana Therapeutics from $4.00 to $3.00 and set a neutral rating for the company in a report on Wednesday, August 14th. 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $6.00.

Mersana Therapeutics Trading Down 4.3 %

Shares of MRSN opened at $1.56 on Tuesday. The stock’s 50-day moving average price is $1.81 and its 200 day moving average price is $3.00. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $190.88 million, a price-to-earnings ratio of -1.37 and a beta of 1.55. Mersana Therapeutics has a 12-month low of $1.07 and a 12-month high of $6.28.

Mersana Therapeutics (NASDAQ:MRSN) last issued its earnings results on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The firm had revenue of $2.30 million during the quarter, compared to the consensus estimate of $8.72 million. Mersana Therapeutics had a negative return on equity of 260.65% and a negative net margin of 352.01%. The firm’s revenue for the quarter was down 78.3% compared to the same quarter last year. During the same period last year, the business earned ($0.47) earnings per share. As a group, research analysts predict that Mersana Therapeutics will post -0.6 earnings per share for the current year.

Institutional Investors Weigh In On Mersana Therapeutics

Large investors have recently bought and sold shares of the business. ClariVest Asset Management LLC acquired a new position in Mersana Therapeutics in the first quarter worth $2,114,000. Acadian Asset Management LLC lifted its position in Mersana Therapeutics by 166.7% during the 1st quarter. Acadian Asset Management LLC now owns 468,923 shares of the company’s stock worth $2,099,000 after buying an additional 293,115 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Mersana Therapeutics during the 2nd quarter worth about $508,000. Susquehanna Fundamental Investments LLC acquired a new stake in Mersana Therapeutics in the 1st quarter valued at about $1,049,000. Finally, Federated Hermes Inc. raised its stake in shares of Mersana Therapeutics by 105,301.7% in the second quarter. Federated Hermes Inc. now owns 185,507 shares of the company’s stock worth $373,000 after acquiring an additional 185,331 shares during the last quarter. 93.92% of the stock is currently owned by 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.