Mersana Therapeutics, Inc. to Post Q3 2024 Earnings of ($0.23) Per Share, Wedbush Forecasts (NASDAQ:MRSN)

Mersana Therapeutics, Inc. (NASDAQ:MRSN) – Analysts at Wedbush lifted their Q3 2024 EPS estimates for Mersana Therapeutics in a research note issued to investors on Tuesday, August 13th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings per share of ($0.23) for the quarter, up from their previous forecast of ($0.25). The consensus estimate for Mersana Therapeutics’ current full-year earnings is ($0.60) per share. Wedbush also issued estimates for Mersana Therapeutics’ Q4 2024 earnings at ($0.23) EPS, FY2024 earnings at ($0.81) EPS, Q1 2025 earnings at ($0.24) EPS, Q2 2025 earnings at ($0.18) EPS, Q3 2025 earnings at ($0.17) EPS, Q4 2025 earnings at ($0.16) EPS, FY2025 earnings at ($0.73) EPS, FY2026 earnings at ($0.59) EPS, FY2027 earnings at ($0.51) EPS and FY2028 earnings at $0.08 EPS.

Mersana Therapeutics (NASDAQ:MRSN) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). Mersana Therapeutics had a negative return on equity of 260.65% and a negative net margin of 352.01%. The business had revenue of $2.30 million during the quarter, compared to analysts’ expectations of $8.72 million. During the same period in the previous year, the business posted ($0.47) EPS. The business’s quarterly revenue was down 78.3% compared to the same quarter last year.

MRSN has been the subject of several other reports. Robert W. Baird cut their target price on shares of Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday. Lifesci Capital raised Mersana Therapeutics to a “strong-buy” rating in a report on Monday, July 29th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Mersana Therapeutics Price Performance

Shares of Mersana Therapeutics stock opened at $1.31 on Friday. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 0.72. Mersana Therapeutics has a 52 week low of $1.07 and a 52 week high of $6.28. The stock’s 50-day simple moving average is $1.91 and its 200-day simple moving average is $3.10. The company has a market capitalization of $160.29 million, a price-to-earnings ratio of -1.15 and a beta of 1.55.

Hedge Funds Weigh In On Mersana Therapeutics

Several large investors have recently modified their holdings of the stock. Algert Global LLC bought a new stake in shares of Mersana Therapeutics in the 2nd quarter worth about $90,000. Susquehanna Fundamental Investments LLC increased its stake in Mersana Therapeutics by 31.9% in the second quarter. Susquehanna Fundamental Investments LLC now owns 308,691 shares of the company’s stock worth $620,000 after purchasing an additional 74,575 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Mersana Therapeutics during the second quarter worth $508,000. Marshall Wace LLP boosted its stake in shares of Mersana Therapeutics by 358.0% during the second quarter. Marshall Wace LLP now owns 176,029 shares of the company’s stock valued at $354,000 after purchasing an additional 137,596 shares during the period. Finally, XTX Topco Ltd increased its stake in Mersana Therapeutics by 262.1% in the 2nd quarter. XTX Topco Ltd now owns 121,432 shares of the company’s stock worth $244,000 after buying an additional 87,893 shares during the period. Institutional investors own 93.92% of the company’s stock.

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.