Mersana Therapeutics (NASDAQ:MRSN) Given New $5.00 Price Target at Citigroup

Mersana Therapeutics (NASDAQ:MRSN) had its target price cut by stock analysts at Citigroup from $6.00 to $5.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 217.46% from the stock’s current price.

A number of other research firms have also issued reports on MRSN. Lifesci Capital raised Mersana Therapeutics to a “strong-buy” rating in a report on Monday, July 29th. Robert W. Baird cut their target price 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, August 14th. Two equities research 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 stock. According to MarketBeat.com, Mersana Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Mersana Therapeutics Price Performance

Mersana Therapeutics stock traded down $0.06 during trading hours on Tuesday, hitting $1.58. 100,053 shares of the company traded hands, compared to its average volume of 1,816,330. Mersana Therapeutics has a 1-year low of $1.07 and a 1-year high of $6.28. The firm has a market cap of $192.72 million, a P/E ratio of -1.38 and a beta of 1.55. The firm’s 50-day simple moving average is $1.82 and its two-hundred day simple moving average is $3.01. 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 (NASDAQ:MRSN) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The company had revenue of $2.30 million for 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%. Mersana Therapeutics’s revenue was down 78.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.47) EPS. As a group, analysts forecast that Mersana Therapeutics will post -0.6 earnings per share for the current fiscal year.

Institutional Trading of Mersana Therapeutics

A number of hedge funds have recently modified their holdings of MRSN. Victory Capital Management Inc. purchased a new position in Mersana Therapeutics during the fourth quarter valued at approximately $30,000. Russell Investments Group Ltd. grew its holdings in shares of Mersana Therapeutics by 976.7% during the 1st quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company’s stock valued at $42,000 after acquiring an additional 8,575 shares in the last quarter. Algert Global LLC acquired a new position in shares of Mersana Therapeutics in the second quarter worth $90,000. Walleye Trading LLC purchased a new stake in shares of Mersana Therapeutics during the first quarter worth $141,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Mersana Therapeutics during the first quarter valued at $226,000. Hedge funds and other institutional investors own 93.92% of the company’s stock.

About Mersana Therapeutics

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.