Mersana Therapeutics, Inc. (NASDAQ:MRSN) Given Average Rating of “Moderate Buy” by Brokerages

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $6.00.

A number of research analysts have recently issued reports on the company. Robert W. Baird decreased their target price on Mersana Therapeutics from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Lifesci Capital upgraded Mersana Therapeutics to a “strong-buy” rating in a research report on Monday, July 29th. Finally, Citigroup decreased their target price on Mersana Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th.

Mersana Therapeutics Trading Down 4.5 %

Mersana Therapeutics stock opened at $1.80 on Thursday. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 2.02. Mersana Therapeutics has a 12 month low of $1.07 and a 12 month high of $6.28. The stock’s 50 day simple moving average is $1.70 and its two-hundred day simple moving average is $2.59. The firm has a market cap of $220.82 million, a PE ratio of -1.58 and a beta of 1.47.

Mersana Therapeutics (NASDAQ:MRSN) last announced its earnings results on Tuesday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). Mersana Therapeutics had a negative net margin of 349.98% and a negative return on equity of 333.91%. The business had revenue of $2.30 million for the quarter, compared to analysts’ expectations of $8.72 million. During the same quarter last year, the business earned ($0.47) EPS. The company’s quarterly revenue was down 78.3% on a year-over-year basis. Analysts anticipate that Mersana Therapeutics will post -0.71 earnings per share for the current year.

Insider Buying and Selling at Mersana Therapeutics

In other Mersana Therapeutics news, CEO Martin H. Jr. Huber sold 50,423 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $1.76, for a total value of $88,744.48. Following the transaction, the chief executive officer now owns 116,327 shares in the company, valued at approximately $204,735.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.80% of the stock is currently owned by insiders.

Institutional Trading of Mersana Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Mersana Therapeutics by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 79,932 shares of the company’s stock worth $359,000 after acquiring an additional 4,962 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Mersana Therapeutics by 976.7% in the 1st quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company’s stock worth $42,000 after acquiring an additional 8,575 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Mersana Therapeutics in the 4th quarter worth $30,000. Renaissance Technologies LLC increased its position in shares of Mersana Therapeutics by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,448,219 shares of the company’s stock worth $2,911,000 after purchasing an additional 20,400 shares during the last quarter. Finally, ClariVest Asset Management LLC increased its position in shares of Mersana Therapeutics by 6.1% during the 2nd quarter. ClariVest Asset Management LLC now owns 500,498 shares of the company’s stock worth $1,006,000 after purchasing an additional 28,650 shares during the last quarter. 93.92% of the stock is owned by institutional investors and hedge funds.

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.