Brokerages Set Mersana Therapeutics, Inc. (NASDAQ:MRSN) PT at $3.67

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $5.20.

Several equities research analysts have issued reports on MRSN shares. William Blair started coverage on Mersana Therapeutics in a research note on Thursday, February 6th. They set an “outperform” rating for the company. Truist Financial lifted their target price on Mersana Therapeutics from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday. Wedbush reiterated an “outperform” rating and issued a $3.00 target price on shares of Mersana Therapeutics in a report on Thursday. Finally, Guggenheim reiterated a “buy” rating and issued a $5.00 target price on shares of Mersana Therapeutics in a report on Friday.

Mersana Therapeutics Price Performance

MRSN stock opened at $0.34 on Friday. The business has a fifty day moving average of $0.37 and a two-hundred day moving average of $1.00. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 13.35. The stock has a market cap of $42.39 million, a price-to-earnings ratio of -0.56 and a beta of 1.32. Mersana Therapeutics has a 52-week low of $0.26 and a 52-week high of $2.83.

Mersana Therapeutics (NASDAQ:MRSN) last posted its earnings results on Thursday, May 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.02. The company had revenue of $2.75 million during the quarter, compared to analysts’ expectations of $6.05 million. Mersana Therapeutics had a negative return on equity of 401.37% and a negative net margin of 214.20%. As a group, research analysts anticipate that Mersana Therapeutics will post -0.62 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new stake in Mersana Therapeutics during the 1st quarter worth about $1,770,000. Novo Holdings A S purchased a new stake in Mersana Therapeutics during the 4th quarter worth about $6,078,000. Rock Springs Capital Management LP lifted its holdings in Mersana Therapeutics by 12.6% during the 4th quarter. Rock Springs Capital Management LP now owns 3,431,684 shares of the company’s stock worth $4,907,000 after buying an additional 384,902 shares during the last quarter. Boxer Capital Management LLC purchased a new stake in Mersana Therapeutics during the 4th quarter worth about $3,768,000. Finally, Geode Capital Management LLC lifted its holdings in Mersana Therapeutics by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,442,250 shares of the company’s stock worth $3,493,000 after buying an additional 29,035 shares during the last quarter. 93.92% of the stock is currently 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.