Mersana Therapeutics (NASDAQ:MRSN) Price Target Raised to $10.00

Mersana Therapeutics (NASDAQ:MRSN) had its target price raised by Truist Financial from $9.00 to $10.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Guggenheim reiterated a “buy” rating and set a $5.00 price objective on shares of Mersana Therapeutics in a research report on Friday. Wedbush reiterated an “outperform” rating and set a $3.00 price target on shares of Mersana Therapeutics in a report on Thursday. Finally, William Blair assumed coverage on Mersana Therapeutics in a research note on Thursday, February 6th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Mersana Therapeutics presently has an average rating of “Buy” and an average target price of $5.20.

Mersana Therapeutics Stock Performance

Shares of NASDAQ:MRSN opened at $0.34 on Friday. Mersana Therapeutics has a 12-month low of $0.26 and a 12-month high of $2.83. The company’s 50 day moving average price is $0.37 and its two-hundred day moving average price is $1.00. The firm has a market cap of $42.39 million, a PE ratio of -0.56 and a beta of 1.32. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 13.35.

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

Institutional Investors Weigh In On Mersana Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in shares of Mersana Therapeutics by 18.9% during the third quarter. JPMorgan Chase & Co. now owns 2,351,359 shares of the company’s stock valued at $4,444,000 after buying an additional 374,460 shares during the period. Avanza Fonder AB purchased a new position in Mersana Therapeutics during the fourth quarter valued at approximately $81,000. SG Americas Securities LLC increased its holdings in Mersana Therapeutics by 28.7% during the 4th quarter. SG Americas Securities LLC now owns 112,291 shares of the company’s stock worth $161,000 after acquiring an additional 25,058 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in Mersana Therapeutics in the 4th quarter worth approximately $37,000. Finally, Sei Investments Co. purchased a new stake in Mersana Therapeutics in the 4th quarter worth approximately $99,000. 93.92% of the stock is owned by hedge funds and other institutional investors.

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.