Mersana Therapeutics (NASDAQ:MRSN) PT Lowered to $3.00 at Robert W. Baird

Mersana Therapeutics (NASDAQ:MRSN) had its price objective decreased by Robert W. Baird from $4.00 to $3.00 in a research report sent to investors on Wednesday, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Separately, Lifesci Capital raised Mersana Therapeutics to a strong-buy rating in a research report on Monday, July 29th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mersana Therapeutics presently has an average rating of Moderate Buy and an average price target of $6.00.

Mersana Therapeutics Price Performance

NASDAQ:MRSN opened at $1.31 on Wednesday. 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 12-month low of $1.07 and a 12-month high of $6.28. The stock’s 50 day moving average price is $1.91 and its two-hundred day moving average price is $3.10. The firm has a market capitalization of $160.29 million, a price-to-earnings ratio of -1.15 and a beta of 1.55.

Mersana Therapeutics (NASDAQ:MRSN) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.03). Mersana Therapeutics had a negative net margin of 352.01% and a negative return on equity of 260.65%. The business had revenue of $2.30 million for the quarter, compared to analyst estimates of $8.72 million. During the same period in the prior year, the business earned ($0.47) EPS. The company’s revenue for the quarter was down 78.3% compared to the same quarter last year. On average, analysts anticipate that Mersana Therapeutics will post -0.6 earnings per share for the current year.

Institutional Investors Weigh In On Mersana Therapeutics

A number of large investors have recently added to or reduced their stakes in MRSN. Nisa Investment Advisors LLC lifted its position in shares of Mersana Therapeutics by 479.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 17,643 shares of the company’s stock valued at $41,000 after acquiring an additional 14,600 shares during the period. Victory Capital Management Inc. acquired a new stake in Mersana Therapeutics in the fourth quarter valued at $30,000. Foundations Investment Advisors LLC acquired a new stake in shares of Mersana Therapeutics in the fourth quarter valued at about $237,000. Readystate Asset Management LP bought a new position in Mersana Therapeutics during the 4th quarter worth approximately $684,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Mersana Therapeutics during the first quarter worth $226,000. Institutional investors and hedge funds 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.