Mersana Therapeutics, Inc. (NASDAQ:MRSN) Receives $38.19 Average Price Target from Brokerages

Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN) have been given an average rating of “Reduce” by the eight brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $38.1875.

MRSN has been the topic of several research reports. BTIG Research cut Mersana Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, November 13th. Truist Financial lowered Mersana Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the company from $36.00 to $30.75 in a research report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mersana Therapeutics in a report on Monday, December 29th. William Blair lowered Mersana Therapeutics from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, November 13th. Finally, Guggenheim downgraded shares of Mersana Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, November 14th.

Hedge Funds Weigh In On Mersana Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new position in shares of Mersana Therapeutics during the first quarter valued at approximately $1,770,000. Jane Street Group LLC bought a new position in Mersana Therapeutics during the 2nd quarter valued at approximately $151,000. 683 Capital Management LLC raised its stake in Mersana Therapeutics by 20.6% during the second quarter. 683 Capital Management LLC now owns 1,990,000 shares of the company’s stock valued at $589,000 after buying an additional 340,000 shares during the last quarter. Marshall Wace LLP purchased a new position in Mersana Therapeutics during the second quarter valued at $68,000. Finally, JPMorgan Chase & Co. boosted its holdings in Mersana Therapeutics by 156.6% in the second quarter. JPMorgan Chase & Co. now owns 130,094 shares of the company’s stock worth $39,000 after acquiring an additional 79,390 shares in the last quarter. Institutional investors own 93.92% of the company’s stock.

Mersana Therapeutics Trading Up 0.1%

Shares of Mersana Therapeutics stock opened at $29.08 on Wednesday. The company’s fifty day simple moving average is $28.48 and its two-hundred day simple moving average is $15.45. Mersana Therapeutics has a 12-month low of $5.21 and a 12-month high of $36.25. The company has a market cap of $145.37 million, a P/E ratio of -2.10 and a beta of 0.44.

Mersana Therapeutics (NASDAQ:MRSN) last announced its earnings results on Friday, November 14th. The company reported ($1.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.44) by ($0.07). The firm had revenue of $11.01 million for the quarter, compared to analysts’ expectations of $14.20 million. Analysts predict that Mersana Therapeutics will post -0.62 EPS for the current fiscal year.

About Mersana Therapeutics

Mersana Therapeutics, Inc is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the development of innovative antibody-drug conjugates (ADCs) for the treatment of cancer. Since its founding in 2003, Mersana has leveraged its proprietary Fleximer® platform to engineer next-generation ADCs that aim to improve the therapeutic index by enhancing drug delivery to tumor cells while minimizing systemic toxicity. The company’s research efforts are centered on creating highly potent payloads linked to antibodies that selectively target tumor-associated antigens.

The Fleximer platform enables site-specific conjugation of multiple payload molecules, offering adjustable drug-to-antibody ratios and controlled release characteristics.