Brokerages Set Mersana Therapeutics, Inc. (NASDAQ:MRSN) Price Target at $6.29

Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) have received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $6.29.

MRSN has been the topic of a number of recent research reports. Robert W. Baird raised their target price on Mersana Therapeutics from $1.00 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Truist Financial raised Mersana Therapeutics from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a report on Thursday, February 29th. Wedbush raised Mersana Therapeutics from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $2.00 to $7.00 in a report on Thursday, February 29th. BTIG Research raised Mersana Therapeutics from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Thursday, February 29th. Finally, Guggenheim raised Mersana Therapeutics from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Thursday, February 29th.

Institutional Investors Weigh In On Mersana Therapeutics

Large investors have recently made changes to their positions in the company. Victory Capital Management Inc. bought a new stake in shares of Mersana Therapeutics in the fourth quarter worth about $30,000. Nisa Investment Advisors LLC increased its holdings in shares of Mersana Therapeutics by 479.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 17,643 shares of the company’s stock worth $41,000 after purchasing an additional 14,600 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Mersana Therapeutics in the third quarter worth about $28,000. Hunter Perkins Capital Management LLC bought a new stake in shares of Mersana Therapeutics in the third quarter worth about $47,000. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Mersana Therapeutics by 73.7% in the third quarter. Harbor Capital Advisors Inc. now owns 37,062 shares of the company’s stock worth $47,000 after purchasing an additional 15,723 shares during the last quarter. 93.92% of the stock is owned by institutional investors.

Mersana Therapeutics Stock Performance

MRSN stock opened at $2.85 on Friday. The company has a market cap of $345.71 million, a P/E ratio of -1.90 and a beta of 1.50. Mersana Therapeutics has a 1 year low of $0.80 and a 1 year high of $9.62. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.36 and a quick ratio of 3.36. The stock’s fifty day moving average price is $4.42 and its 200-day moving average price is $2.96.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.16). The firm had revenue of $10.70 million for the quarter, compared to the consensus estimate of $22.59 million. Mersana Therapeutics had a negative return on equity of 282.36% and a negative net margin of 465.80%. The company’s revenue for the quarter was down 27.1% on a year-over-year basis. During the same period last year, the business posted ($0.44) EPS. On average, equities analysts forecast that Mersana Therapeutics will post -0.6 earnings per share for the current year.

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.