Brokerages Set Mersana Therapeutics, Inc. (NASDAQ:MRSN) PT at $56.60

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $56.60.

MRSN has been the subject of a number of recent analyst reports. Guggenheim reduced their target price on Mersana Therapeutics from $125.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 14th. Wall Street Zen downgraded shares of Mersana Therapeutics to a “strong sell” rating in a report on Saturday, August 2nd. Truist Financial reduced their price objective on shares of Mersana Therapeutics from $250.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, August 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Mersana Therapeutics in a report on Wednesday, October 8th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $17.00 target price on shares of Mersana Therapeutics in a report on Wednesday, August 13th.

Mersana Therapeutics Trading Up 4.6%

NASDAQ MRSN opened at $8.41 on Friday. The stock has a market capitalization of $41.97 million, a price-to-earnings ratio of -0.58 and a beta of 0.92. The business’s 50 day moving average is $8.41 and its two-hundred day moving average is $8.38. Mersana Therapeutics has a 12-month low of $5.21 and a 12-month high of $70.75.

Mersana Therapeutics (NASDAQ:MRSN) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($4.08) EPS for the quarter, missing the consensus estimate of ($3.75) by ($0.33). The firm had revenue of $3.06 million during the quarter, compared to analyst estimates of $6.06 million. Equities analysts forecast that Mersana Therapeutics will post -0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mersana Therapeutics

Hedge funds have recently bought and sold shares of the company. Invesco Ltd. boosted its position in Mersana Therapeutics by 109.3% during the first quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock worth $40,000 after purchasing an additional 59,991 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Mersana Therapeutics by 156.6% in the second quarter. JPMorgan Chase & Co. now owns 130,094 shares of the company’s stock valued at $39,000 after buying an additional 79,390 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Mersana Therapeutics during the 1st quarter worth $45,000. Algert Global LLC raised its stake in shares of Mersana Therapeutics by 124.7% during the 1st quarter. Algert Global LLC now owns 135,013 shares of the company’s stock worth $46,000 after buying an additional 74,930 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Mersana Therapeutics by 102,580.6% in the 1st quarter. CWM LLC now owns 184,825 shares of the company’s stock worth $64,000 after buying an additional 184,645 shares in the last quarter. 93.92% of the stock is owned by hedge funds and other institutional investors.

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.