Shares of Mersana Therapeutics, Inc. (NASDAQ:MRSN – Get Rating) have been assigned an average recommendation of “Buy” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $14.00.
MRSN has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised shares of Mersana Therapeutics from a “neutral” rating to an “overweight” rating and set a $10.00 price objective for the company in a report on Thursday, March 16th. BTIG Research cut their price objective on shares of Mersana Therapeutics from $26.00 to $16.00 in a report on Wednesday, March 1st.
Hedge Funds Weigh In On Mersana Therapeutics
Several institutional investors and hedge funds have recently added to or reduced their stakes in MRSN. State Street Corp lifted its stake in Mersana Therapeutics by 150.5% in the 3rd quarter. State Street Corp now owns 4,059,020 shares of the company’s stock valued at $27,439,000 after purchasing an additional 2,438,690 shares during the last quarter. Marshall Wace LLP lifted its stake in Mersana Therapeutics by 377.6% in the 4th quarter. Marshall Wace LLP now owns 2,523,984 shares of the company’s stock valued at $14,791,000 after purchasing an additional 1,995,516 shares during the last quarter. Baker BROS. Advisors LP bought a new position in Mersana Therapeutics in the 1st quarter valued at approximately $7,752,000. Braidwell LP acquired a new position in Mersana Therapeutics in the 4th quarter valued at approximately $10,915,000. Finally, Bank of Montreal Can acquired a new position in Mersana Therapeutics in the 1st quarter valued at approximately $4,665,000. Institutional investors own 92.40% of the company’s stock.
Mersana Therapeutics Stock Performance
Mersana Therapeutics (NASDAQ:MRSN – Get Rating) last announced its earnings results on Tuesday, May 9th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.11). Mersana Therapeutics had a negative return on equity of 223.97% and a negative net margin of 658.85%. The company had revenue of $7.80 million for the quarter, compared to the consensus estimate of $18.29 million. During the same period in the previous year, the firm posted ($0.59) EPS. The business’s quarterly revenue was up 290.0% on a year-over-year basis. On average, sell-side analysts predict that Mersana Therapeutics will post -1.89 earnings per share for the current year.
Mersana Therapeutics Company Profile
Mersana Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the development of antibody-drug conjugates that offer clinical benefit for cancer patients. Its product candidates are Upifitamab Rilsodotin (UpRi), XMT-1536, and XMT-1592. The company was founded by Mikhail Papisov in 2001 and is headquartered in Cambridge, MA.
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