Mersana Therapeutics (NASDAQ:MRSN) Issues Earnings Results, Misses Estimates By $0.02 EPS

Mersana Therapeutics (NASDAQ:MRSN) issued its quarterly earnings results on Tuesday. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.02), Briefing.com reports. The business had revenue of $2.30 million during the quarter, compared to analyst estimates of $8.72 million. Mersana Therapeutics had a negative net margin of 352.01% and a negative return on equity of 260.65%. The firm’s quarterly revenue was down 78.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.47) earnings per share.

Mersana Therapeutics Trading Down 8.1 %

NASDAQ:MRSN traded down $0.11 on Wednesday, reaching $1.24. 1,579,293 shares of the stock traded hands, compared to its average volume of 1,845,754. The firm has a market capitalization of $151.73 million, a price-to-earnings ratio of -1.18 and a beta of 1.55. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 0.72. The company’s 50 day moving average is $1.96 and its 200-day moving average is $3.14. Mersana Therapeutics has a 1-year low of $1.07 and a 1-year high of $6.28.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Lifesci Capital upgraded Mersana Therapeutics to a “strong-buy” rating in a report on Monday, July 29th. Robert W. Baird dropped their price objective 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. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $6.00.

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.