What is Leerink Partnrs’ Forecast for MRSN FY2024 Earnings?

Mersana Therapeutics, Inc. (NASDAQ:MRSN) – Leerink Partnrs lifted their FY2024 earnings per share (EPS) estimates for shares of Mersana Therapeutics in a research note issued to investors on Wednesday, November 13th. Leerink Partnrs analyst J. Chang now forecasts that the company will post earnings per share of ($0.57) for the year, up from their previous forecast of ($0.62). The consensus estimate for Mersana Therapeutics’ current full-year earnings is ($0.66) per share. Leerink Partnrs also issued estimates for Mersana Therapeutics’ FY2025 earnings at ($0.46) EPS.

A number of other research analysts also recently weighed in on the company. Lifesci Capital upgraded Mersana Therapeutics to a “strong-buy” rating in a report on Monday, July 29th. Citigroup began coverage on Mersana Therapeutics in a report on Friday, November 15th. They set a “buy” rating and a $5.00 price target on the stock. Finally, Robert W. Baird lowered their price target on Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

Mersana Therapeutics Stock Performance

Shares of MRSN stock opened at $2.22 on Monday. Mersana Therapeutics has a 1-year low of $1.22 and a 1-year high of $6.28. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 13.35. The company has a market capitalization of $274.24 million, a price-to-earnings ratio of -3.64 and a beta of 1.50. The stock’s fifty day simple moving average is $2.06 and its 200-day simple moving average is $2.03.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings data on Wednesday, November 13th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.08. The business had revenue of $12.60 million during the quarter, compared to analyst estimates of $7.53 million. Mersana Therapeutics had a negative return on equity of 401.37% and a negative net margin of 214.20%. The company’s revenue was up 63.6% compared to the same quarter last year. During the same period last year, the company posted ($0.35) EPS.

Institutional Trading of Mersana Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in MRSN. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Mersana Therapeutics in the first quarter worth about $226,000. BNP Paribas Financial Markets lifted its position in shares of Mersana Therapeutics by 90.0% in the first quarter. BNP Paribas Financial Markets now owns 80,735 shares of the company’s stock worth $362,000 after buying an additional 38,239 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Mersana Therapeutics by 976.7% during the 1st 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. Vanguard Group Inc. lifted its position in shares of Mersana Therapeutics by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 6,274,370 shares of the company’s stock worth $28,109,000 after purchasing an additional 36,782 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of 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 purchasing an additional 293,115 shares during the last quarter. Institutional investors and hedge funds own 93.92% of the company’s stock.

Insider Activity at Mersana Therapeutics

In other Mersana Therapeutics news, CEO Martin H. Jr. Huber sold 50,423 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was 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 of the company’s stock, valued at $204,735.52. The trade was a 30.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 70,849 shares of company stock valued at $129,184. Insiders own 11.80% of the company’s stock.

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.