Mersana Therapeutics (NASDAQ:MRSN) had its target price hoisted by equities research analysts at HC Wainwright from $11.06 to $23.00 in a report released on Monday, September 17th, The Fly reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 175.12% from the company’s current price. The analysts noted that the move was a valuation call.
Other research analysts have also issued reports about the company. Robert W. Baird set a $20.00 target price on Mersana Therapeutics and gave the stock a “buy” rating in a report on Wednesday, August 15th. ValuEngine raised Mersana Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, June 29th. Zacks Investment Research raised Mersana Therapeutics from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Wednesday, June 6th. Finally, Leerink Swann reissued a “market perform” rating and issued a $61.00 price target on shares of Mersana Therapeutics in a research note on Friday, July 20th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $26.83.
NASDAQ:MRSN traded up $0.12 during mid-day trading on Monday, reaching $8.36. 85,847 shares of the stock were exchanged, compared to its average volume of 145,223. The firm has a market cap of $231.53 million, a P/E ratio of -2.60 and a beta of -1.42. Mersana Therapeutics has a 1-year low of $8.16 and a 1-year high of $23.96.
In related news, insider Timothy B. Lowinger sold 3,500 shares of Mersana Therapeutics stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $11.06, for a total value of $38,710.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 10,500 shares of company stock worth $125,440 in the last three months. 39.70% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. American International Group Inc. increased its stake in Mersana Therapeutics by 110.1% in the 1st quarter. American International Group Inc. now owns 7,151 shares of the company’s stock worth $113,000 after purchasing an additional 3,747 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Mersana Therapeutics by 20.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 24,500 shares of the company’s stock valued at $438,000 after acquiring an additional 4,200 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Mersana Therapeutics by 27.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 31,615 shares of the company’s stock valued at $564,000 after acquiring an additional 6,804 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Mersana Therapeutics by 505.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 9,496 shares of the company’s stock valued at $149,000 after acquiring an additional 7,928 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in Mersana Therapeutics by 266.7% during the 1st quarter. New York State Common Retirement Fund now owns 12,100 shares of the company’s stock valued at $191,000 after acquiring an additional 8,800 shares in the last quarter. 82.61% of the stock is currently owned by hedge funds and other institutional investors.
About Mersana Therapeutics
Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of oncology therapeutics in the United States and Canada. The company develops Dolaflexin, an antibody drug conjugate (ADC) platform designed to enhance the potency and efficacy of ADCs while simultaneously enhancing the safety and tolerability.
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