Mersana Therapeutics’ (MRSN) “Buy” Rating Reiterated at Guggenheim

Guggenheim reiterated their buy rating on shares of Mersana Therapeutics (NASDAQ:MRSN) in a research report released on Friday morning,Benzinga reports. They currently have a $5.00 target price on the stock.

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

Mersana Therapeutics Stock Performance

Shares of MRSN stock opened at $0.34 on Friday. The company has a debt-to-equity ratio of 13.35, a quick ratio of 2.35 and a current ratio of 2.35. Mersana Therapeutics has a fifty-two week low of $0.26 and a fifty-two week high of $2.83. The stock has a 50 day moving average price of $0.37 and a two-hundred day moving average price of $1.00. The company has a market capitalization of $42.39 million, a P/E ratio of -0.56 and a beta of 1.32.

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, beating the consensus estimate of ($0.21) by $0.02. Mersana Therapeutics had a negative return on equity of 401.37% and a negative net margin of 214.20%. The firm had revenue of $2.75 million for the quarter, compared to analysts’ expectations of $6.05 million. Analysts expect that Mersana Therapeutics will post -0.62 earnings per share for the current year.

Institutional Investors Weigh In On Mersana Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. boosted its holdings in Mersana Therapeutics by 19.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,333,124 shares of the company’s stock worth $459,000 after acquiring an additional 221,126 shares in the last quarter. AQR Capital Management LLC bought a new stake in Mersana Therapeutics in the first quarter worth $1,770,000. 683 Capital Management LLC boosted its holdings in Mersana Therapeutics by 83.3% in the first quarter. 683 Capital Management LLC now owns 1,650,000 shares of the company’s stock worth $568,000 after acquiring an additional 750,000 shares in the last quarter. Alamea Verwaltungs GmbH bought a new stake in Mersana Therapeutics in the first quarter worth $208,000. Finally, State of Wyoming bought a new stake in Mersana Therapeutics in the first quarter worth $102,000. 93.92% of the stock is 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.