Analysts Set Mersana Therapeutics, Inc. (NASDAQ:MRSN) Target Price at $38.19

Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) have been assigned a consensus recommendation of “Reduce” from the eight research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $38.1875.

Several brokerages have recently weighed in on MRSN. Leerink Partnrs downgraded Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. Wedbush cut shares of Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 13th. Lifesci Capital lowered shares of Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mersana Therapeutics in a research report on Tuesday. Finally, Guggenheim downgraded Mersana Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, November 14th.

Mersana Therapeutics Stock Performance

NASDAQ MRSN opened at $27.47 on Tuesday. The business’s 50 day moving average price is $15.01 and its 200-day moving average price is $10.43. Mersana Therapeutics has a fifty-two week low of $5.21 and a fifty-two week high of $70.73. The company has a market cap of $137.35 million, a P/E ratio of -1.98 and a beta of 0.45.

Mersana Therapeutics (NASDAQ:MRSN) last posted its quarterly earnings data on Friday, November 14th. The company reported ($1.51) EPS for the quarter, missing the consensus estimate of ($1.44) by ($0.07). The business had revenue of $11.01 million for the quarter, compared to the consensus estimate of $14.20 million. As a group, equities analysts predict that Mersana Therapeutics will post -0.62 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MRSN. AQR Capital Management LLC purchased a new stake in shares of Mersana Therapeutics during the first quarter valued at $1,770,000. Acadian Asset Management LLC purchased a new position in shares of Mersana Therapeutics during the first quarter worth $1,028,000. 683 Capital Management LLC raised its holdings in shares of Mersana Therapeutics by 20.6% during the second quarter. 683 Capital Management LLC now owns 1,990,000 shares of the company’s stock worth $589,000 after purchasing an additional 340,000 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Mersana Therapeutics by 19.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,333,124 shares of the company’s stock valued at $459,000 after purchasing an additional 221,126 shares during the last quarter. Finally, Ieq Capital LLC acquired a new stake in Mersana Therapeutics during the first quarter worth about $243,000. Institutional investors and hedge funds 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.