Robert W. Baird Trims Mersana Therapeutics (NASDAQ:MRSN) Target Price to $18.00

Mersana Therapeutics (NASDAQ:MRSNGet Rating) had its price target reduced by Robert W. Baird from $23.00 to $18.00 in a research note issued to investors on Tuesday, The Fly reports.

Other equities research analysts have also recently issued reports about the company. HC Wainwright decreased their price target on Mersana Therapeutics from $24.00 to $19.00 in a report on Monday, May 9th. Zacks Investment Research raised Mersana Therapeutics from a hold rating to a buy rating and set a $4.00 price target on the stock in a report on Tuesday, May 3rd. Finally, SVB Leerink reduced their target price on Mersana Therapeutics from $25.00 to $16.00 and set an outperform rating on the stock in a report on Friday, February 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Mersana Therapeutics has a consensus rating of Buy and a consensus target price of $17.80.

NASDAQ MRSN opened at $2.98 on Tuesday. The company has a market capitalization of $289.03 million, a PE ratio of -1.20 and a beta of 2.37. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.97 and a current ratio of 4.28. The business’s fifty day moving average is $3.99 and its 200 day moving average is $5.41. Mersana Therapeutics has a fifty-two week low of $2.68 and a fifty-two week high of $15.34.

Mersana Therapeutics (NASDAQ:MRSNGet Rating) last released its earnings results on Monday, May 9th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.28). Mersana Therapeutics had a negative net margin of 8,826.73% and a negative return on equity of 119.10%. During the same period in the previous year, the company earned ($0.50) EPS. On average, sell-side analysts forecast that Mersana Therapeutics will post -2.13 EPS for the current year.

In related news, Director Andrew A. F. Hack acquired 598,086 shares of Mersana Therapeutics stock in a transaction on Tuesday, April 12th. The shares were bought at an average cost of $4.18 per share, with a total value of $2,499,999.48. Following the completion of the purchase, the director now directly owns 7,120,116 shares of the company’s stock, valued at approximately $29,762,084.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada increased its stake in Mersana Therapeutics by 47.2% during the third quarter. Royal Bank of Canada now owns 6,941 shares of the company’s stock worth $66,000 after acquiring an additional 2,226 shares during the last quarter. Ensign Peak Advisors Inc bought a new stake in Mersana Therapeutics during the fourth quarter worth approximately $56,000. Point72 Hong Kong Ltd bought a new stake in Mersana Therapeutics during the fourth quarter worth approximately $57,000. Victory Capital Management Inc. bought a new stake in Mersana Therapeutics during the first quarter worth approximately $36,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Mersana Therapeutics during the fourth quarter valued at approximately $67,000. 92.74% of the stock is currently owned by institutional investors.

Mersana Therapeutics Company Profile (Get Rating)

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company, develops antibody drug conjugates (ADC) for cancer patients with unmet need. It develops XMT-1592, a Dolasynthen ADC targeting NaPi2b-expressing tumor cells, which is in phase I clinical trial for the treatment of ovarian cancer and NSCLC adenocarcinoma.

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