Analysts Set Mersana Therapeutics, Inc. (NASDAQ:MRSN) Price Target at $38.19

by · The Markets Daily

Mersana Therapeutics, Inc. (NASDAQ:MRSN – Get Free Report) has earned a consensus rating of “Reduce” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $38.1875.

Several analysts recently issued reports on the company. Leerink Partnrs cut Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mersana Therapeutics in a report on Monday, December 22nd. Wedbush downgraded shares of Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. BTIG Research cut shares of Mersana Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, William Blair downgraded shares of Mersana Therapeutics from a “strong-buy” rating to a “market perform” rating in a report on Thursday, November 13th.

Check Out Our Latest Stock Report on Mersana Therapeutics

Mersana Therapeutics Price Performance

Shares of MRSN stock opened at $28.73 on Friday. The company has a market capitalization of $143.65 million, a price-to-earnings ratio of -2.07 and a beta of 0.43. Mersana Therapeutics has a one year low of $5.21 and a one year high of $37.88. The company’s fifty day moving average price is $21.69 and its 200-day moving average price is $12.73.

Mersana Therapeutics (NASDAQ:MRSN – Get Free Report) last issued its earnings results on Friday, November 14th. The company reported ($1.51) earnings per share for the quarter, missing the consensus estimate of ($1.44) by ($0.07). The company had revenue of $11.01 million for the quarter, compared to the consensus estimate of $14.20 million. Equities research analysts expect that Mersana Therapeutics will post -0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mersana Therapeutics

Several institutional investors have recently bought and sold shares of the business. Voleon Capital Management LP purchased a new position in shares of Mersana Therapeutics in the 3rd quarter worth $102,000. Mackenzie Financial Corp bought a new position in shares of Mersana Therapeutics in the 3rd quarter valued at about $371,000. Bank of America Corp DE grew its position in Mersana Therapeutics by 230.6% in the third quarter. Bank of America Corp DE now owns 66,397 shares of the company’s stock worth $515,000 after acquiring an additional 46,314 shares in the last quarter. Invesco Ltd. increased its stake in Mersana Therapeutics by 109.3% during the first quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock worth $40,000 after acquiring an additional 59,991 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Mersana Therapeutics by 156.6% during the second quarter. JPMorgan Chase & Co. now owns 130,094 shares of the company’s stock worth $39,000 after acquiring an additional 79,390 shares during the last quarter. Institutional investors own 93.92% of the company’s stock.

About Mersana Therapeutics

(Get Free Report)

Mersana Therapeutics, Inc is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the development of innovative antibody-drug conjugates (ADCs) for the treatment of cancer. Since its founding in 2003, Mersana has leveraged its proprietary Fleximer® platform to engineer next-generation ADCs that aim to improve the therapeutic index by enhancing drug delivery to tumor cells while minimizing systemic toxicity. The company’s research efforts are centered on creating highly potent payloads linked to antibodies that selectively target tumor-associated antigens.

The Fleximer platform enables site-specific conjugation of multiple payload molecules, offering adjustable drug-to-antibody ratios and controlled release characteristics.

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