Mersana Therapeutics (NASDAQ:MRSN) Coverage Initiated at William Blair

Research analysts at William Blair started coverage on shares of Mersana Therapeutics (NASDAQ:MRSN) in a report issued on Thursday,Briefing.com Automated Import reports. The firm set an “outperform” rating on the stock.

A number of other equities analysts have also weighed in on MRSN. Wedbush restated an “outperform” rating and issued a $4.00 target price (down from $7.00) on shares of Mersana Therapeutics in a research note on Friday, January 10th. Citigroup began coverage on Mersana Therapeutics in a research note on Friday, November 15th. They issued a “buy” rating and a $5.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.57.

Mersana Therapeutics Stock Performance

NASDAQ:MRSN opened at $0.72 on Thursday. The company has a debt-to-equity ratio of 13.35, a quick ratio of 2.35 and a current ratio of 2.35. Mersana Therapeutics has a 52-week low of $0.49 and a 52-week high of $6.28. The firm has a market cap of $88.68 million, a price-to-earnings ratio of -1.18 and a beta of 1.40. The business’s fifty day moving average is $1.39 and its 200 day moving average is $1.71.

Mersana Therapeutics (NASDAQ:MRSN) last announced its earnings results on Wednesday, November 13th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.08. The business had revenue of $12.60 million for the quarter, compared to analyst estimates of $7.53 million. Mersana Therapeutics had a negative return on equity of 401.37% and a negative net margin of 214.20%. The company’s quarterly revenue was up 63.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.35) EPS. Research analysts predict that Mersana Therapeutics will post -0.61 EPS for the current year.

Hedge Funds Weigh In On Mersana Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Mersana Therapeutics by 1.6% in the 3rd quarter. State Street Corp now owns 2,725,394 shares of the company’s stock worth $5,151,000 after purchasing an additional 43,339 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Mersana Therapeutics by 18.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,351,359 shares of the company’s stock valued at $4,444,000 after acquiring an additional 374,460 shares during the period. Verition Fund Management LLC boosted its holdings in Mersana Therapeutics by 11,695.2% during the 3rd quarter. Verition Fund Management LLC now owns 1,303,249 shares of the company’s stock valued at $2,463,000 after acquiring an additional 1,292,200 shares during the period. Exome Asset Management LLC purchased a new stake in Mersana Therapeutics during the 3rd quarter valued at about $2,227,000. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Mersana Therapeutics by 104.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 993,046 shares of the company’s stock valued at $1,877,000 after acquiring an additional 507,453 shares during the period. 93.92% of the stock is currently owned by hedge funds and other institutional investors.

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.