Mersana Therapeutics (NASDAQ:MRSN) Lowered to “Hold” Rating by Wedbush

Wedbush cut shares of Mersana Therapeutics (NASDAQ:MRSN) from a strong-buy rating to a hold rating in a report published on Thursday morning,Zacks.com reports.

A number of other research firms have also recently weighed in on MRSN. Truist Financial cut Mersana Therapeutics from a “buy” rating to a “hold” rating and cut their price target for the company from $36.00 to $30.75 in a report on Thursday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mersana Therapeutics in a research note on Wednesday, October 8th. BTIG Research cut Mersana Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday. Wall Street Zen lowered Mersana Therapeutics to a “strong sell” rating in a report on Saturday, August 2nd. Finally, William Blair downgraded shares of Mersana Therapeutics to a “market perform” rating in a report on Thursday. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Mersana Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $55.55.

Mersana Therapeutics Trading Up 1.8%

MRSN traded up $0.49 on Thursday, hitting $27.92. 419,769 shares of the company’s stock were exchanged, compared to its average volume of 147,680. The stock has a fifty day moving average of $8.92 and a two-hundred day moving average of $8.50. Mersana Therapeutics has a twelve month low of $5.21 and a twelve month high of $70.73. The firm has a market cap of $139.32 million, a PE ratio of -1.91 and a beta of 0.92.

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

Institutional Trading of Mersana Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its position in Mersana Therapeutics by 109.3% in the 1st quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock worth $40,000 after buying an additional 59,991 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of 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 during the last quarter. 683 Capital Management LLC boosted its position 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 purchasing an additional 340,000 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Mersana Therapeutics during the first quarter valued at $1,028,000. Finally, Jacobs Levy Equity Management Inc. grew its stake 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 in 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.