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

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has been assigned an average recommendation of “Reduce” from the eight ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $38.1875.

A number of research analysts have recently issued reports on the stock. William Blair downgraded shares of Mersana Therapeutics from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, November 13th. Lifesci Capital downgraded shares of Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Wedbush lowered shares of Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Mersana Therapeutics in a research report on Monday. Finally, Leerink Partnrs lowered Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 13th.

Hedge Funds Weigh In On Mersana Therapeutics

Several hedge funds have recently modified their holdings of MRSN. Voleon Capital Management LP purchased a new position in shares of Mersana Therapeutics in the 3rd quarter valued at approximately $102,000. Mackenzie Financial Corp acquired a new stake in shares of Mersana Therapeutics during the third quarter worth $371,000. Bank of America Corp DE grew its holdings in shares of Mersana Therapeutics by 230.6% during the third quarter. Bank of America Corp DE now owns 66,397 shares of the company’s stock valued at $515,000 after buying an additional 46,314 shares during the last quarter. Invesco Ltd. increased its position in shares of Mersana Therapeutics by 109.3% in the 1st quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock valued at $40,000 after acquiring an additional 59,991 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Mersana Therapeutics by 156.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 130,094 shares of the company’s stock valued at $39,000 after acquiring an additional 79,390 shares during the period. Institutional investors and hedge funds own 93.92% of the company’s stock.

Mersana Therapeutics Trading Up 1.0%

MRSN opened at $28.93 on Friday. The firm has a market cap of $144.65 million, a price-to-earnings ratio of -2.08 and a beta of 0.45. Mersana Therapeutics has a 12 month low of $5.21 and a 12 month high of $37.88. The stock has a fifty day moving average price of $22.46 and a 200-day moving average price of $12.99.

Mersana Therapeutics (NASDAQ:MRSN) last posted its earnings results on Friday, November 14th. The company reported ($1.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.44) by ($0.07). The business had revenue of $11.01 million during the quarter, compared to the consensus estimate of $14.20 million. On average, equities research analysts forecast that Mersana Therapeutics will post -0.62 EPS for the current year.

Mersana Therapeutics Company Profile

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.