Mersana Therapeutics, Inc. (NASDAQ:MRSN) Receives $5.57 Consensus Target Price from Analysts

Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) have been given a consensus recommendation of “Moderate Buy” by the nine research firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $5.57.

MRSN has been the subject of several research analyst reports. Wedbush restated an “outperform” rating and set a $4.00 price objective (down from $7.00) on shares of Mersana Therapeutics in a research report on Friday, January 10th. William Blair started coverage on Mersana Therapeutics in a report on Thursday, February 6th. They set an “outperform” rating for the company. Finally, Citigroup began coverage on Mersana Therapeutics in a research note on Friday, November 15th. They issued a “buy” rating and a $5.00 price objective on the stock.

Institutional Investors Weigh In On Mersana Therapeutics

Hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp bought a new position in Mersana Therapeutics in the fourth quarter valued at about $131,000. Sphera Funds Management LTD. acquired a new position in shares of Mersana Therapeutics in the fourth quarter valued at approximately $987,000. Nuveen Asset Management LLC raised its holdings in Mersana Therapeutics by 53.6% in the 4th quarter. Nuveen Asset Management LLC now owns 232,223 shares of the company’s stock valued at $332,000 after buying an additional 81,022 shares during the last quarter. Millennium Management LLC boosted its position in Mersana Therapeutics by 206.4% during the 4th quarter. Millennium Management LLC now owns 795,973 shares of the company’s stock worth $1,138,000 after buying an additional 536,190 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Mersana Therapeutics by 12.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,111,998 shares of the company’s stock worth $1,590,000 after acquiring an additional 118,952 shares during the last quarter. Institutional investors and hedge funds own 93.92% of the company’s stock.

Mersana Therapeutics Stock Performance

Shares of Mersana Therapeutics stock opened at $0.53 on Friday. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 13.35. The company has a market cap of $65.22 million, a PE ratio of -0.87 and a beta of 1.39. The company has a 50 day moving average of $1.00 and a 200-day moving average of $1.60. Mersana Therapeutics has a 1-year low of $0.49 and a 1-year high of $6.28.

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.