Mersana Therapeutics, Inc. (NASDAQ:MRSN) Receives $6.00 Average Target Price from Analysts

Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) have earned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat reports. Two investment 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. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $6.00.

Several research analysts recently issued reports on MRSN shares. Robert W. Baird lowered 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. Citigroup cut their price objective on Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Finally, Lifesci Capital upgraded Mersana Therapeutics to a “strong-buy” rating in a report on Monday, July 29th.

Mersana Therapeutics Stock Performance

NASDAQ:MRSN opened at $2.16 on Thursday. The stock’s 50-day moving average is $1.72 and its 200-day moving average is $2.67. Mersana Therapeutics has a 1-year low of $1.07 and a 1-year 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. The stock has a market cap of $264.30 million, a P/E ratio of -1.89 and a beta of 1.47.

Mersana Therapeutics (NASDAQ:MRSN) last posted its earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share 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 the consensus estimate of $8.72 million. Mersana Therapeutics had a negative return on equity of 333.91% and a negative net margin of 349.98%. The company’s revenue was down 78.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.47) earnings per share. Equities research analysts anticipate that Mersana Therapeutics will post -0.72 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Martin H. Jr. Huber sold 50,423 shares of Mersana Therapeutics stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $1.76, for a total value of $88,744.48. Following the completion of the sale, the chief executive officer now owns 116,327 shares in the company, valued at approximately $204,735.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Mersana Therapeutics by 0.6% in the 1st 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. Renaissance Technologies LLC boosted its position in shares of Mersana Therapeutics by 1.4% during the second quarter. Renaissance Technologies LLC now owns 1,448,219 shares of the company’s stock valued at $2,911,000 after buying an additional 20,400 shares during the last quarter. ClariVest Asset Management LLC boosted its holdings in shares of Mersana Therapeutics by 6.1% in the 2nd quarter. ClariVest Asset Management LLC now owns 500,498 shares of the company’s stock worth $1,006,000 after buying an additional 28,650 shares during the last quarter. Acadian Asset Management LLC grew its position in Mersana Therapeutics by 166.7% during the first quarter. Acadian Asset Management LLC now owns 468,923 shares of the company’s stock valued at $2,099,000 after buying an additional 293,115 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Mersana Therapeutics by 19.6% during the second quarter. Bank of New York Mellon Corp now owns 452,829 shares of the company’s stock worth $910,000 after buying an additional 74,092 shares during the last quarter. 93.92% of the stock is 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.