Mersana Therapeutics, Inc. (NASDAQ:MRSN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat.com reports. Two research analysts have 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 target price among brokerages that have issued a report on the stock in the last year is $6.00.

MRSN has been the subject of several research analyst reports. Lifesci Capital upgraded Mersana Therapeutics to a “strong-buy” rating in a report on Monday, July 29th. Citigroup dropped their target price on Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Finally, Robert W. Baird dropped their target price on Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th.

Mersana Therapeutics Stock Performance

NASDAQ MRSN opened at $1.97 on Monday. The stock has a market capitalization of $241.05 million, a PE ratio of -1.73 and a beta of 1.49. The business has a 50 day simple moving average of $1.69 and a two-hundred day simple moving average of $2.32. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.72 and a quick ratio of 2.72. Mersana Therapeutics has a 1-year low of $1.07 and a 1-year high of $6.28.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The firm had revenue of $2.30 million for the quarter, compared to analysts’ expectations of $8.72 million. Mersana Therapeutics had a negative net margin of 349.98% and a negative return on equity of 333.91%. The business’s quarterly revenue was down 78.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.47) EPS. On average, research analysts predict that Mersana Therapeutics will post -0.71 EPS for the current fiscal year.

Insider Activity at Mersana Therapeutics

In related news, CEO Martin H. Jr. Huber sold 50,423 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $1.76, for a total transaction of $88,744.48. Following the completion of the transaction, the chief executive officer now owns 116,327 shares in the company, valued at $204,735.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 68,965 shares of company stock worth $125,605 in the last quarter. 11.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mersana Therapeutics

Large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its position in Mersana Therapeutics by 976.7% during the 1st quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company’s stock valued at $42,000 after purchasing an additional 8,575 shares in the last quarter. Algert Global LLC bought a new stake in Mersana Therapeutics during the 2nd quarter valued at $90,000. Walleye Trading LLC bought a new stake in Mersana Therapeutics during the 1st quarter valued at $141,000. Exchange Traded Concepts LLC raised its position in Mersana Therapeutics by 95.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 85,006 shares of the company’s stock valued at $161,000 after purchasing an additional 41,586 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Mersana Therapeutics during the 1st quarter valued at $226,000. Hedge funds and other institutional investors own 93.92% 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.