Zacks Investment Research upgraded shares of Mersana Therapeutics (NASDAQ:MRSN) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $4.50 price objective on the stock.
According to Zacks, “Mersana Therapeutics, Inc. is a biotechnology company. It focused on discovering and developing a pipeline of antibody drug conjugates. The company’s product candidates include XMT-1522 and XMT-1536 which are in clinical stage. Mersana Therapeutics, Inc. is based in CAMBRIDGE, United States. “
Separately, Cowen reiterated a buy rating on shares of G1 Therapeutics in a research note on Sunday, June 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. Mersana Therapeutics currently has a consensus rating of Buy and an average target price of $21.50.
Mersana Therapeutics (NASDAQ:MRSN) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.73. Mersana Therapeutics had a negative net margin of 61.68% and a negative return on equity of 57.49%. The business had revenue of $41.04 million for the quarter, compared to analyst estimates of $30.11 million. Sell-side analysts predict that Mersana Therapeutics will post -0.71 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. Rhumbline Advisers grew its position in Mersana Therapeutics by 46.2% in the fourth quarter. Rhumbline Advisers now owns 16,102 shares of the company’s stock worth $66,000 after buying an additional 5,090 shares during the last quarter. Algert Global LLC acquired a new position in Mersana Therapeutics in the first quarter worth approximately $110,000. Marshall Wace LLP acquired a new position in Mersana Therapeutics in the first quarter worth approximately $141,000. Bank of America Corp DE grew its position in Mersana Therapeutics by 1,409.6% in the fourth quarter. Bank of America Corp DE now owns 31,807 shares of the company’s stock worth $129,000 after buying an additional 29,700 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Mersana Therapeutics by 19.2% in the fourth quarter. Bank of New York Mellon Corp now owns 39,203 shares of the company’s stock worth $160,000 after buying an additional 6,306 shares during the last quarter. Hedge funds and other institutional investors own 77.40% of the company’s stock.
About Mersana Therapeutics
Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of antibody drug conjugate (ADC) for cancer patients with unmet need. The company develops Dolaflexin, a platform, which is used to generate a pipeline of proprietary ADC product candidates to address patient populations that are not amenable to treat with traditional ADC-based therapies.
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