Mersana Therapeutics (NASDAQ:MRSN – Get Free Report)‘s stock had its “neutral” rating reaffirmed by stock analysts at Wedbush in a research report issued to clients and investors on Tuesday, RTT News reports. They currently have a $2.00 target price on the stock. Wedbush’s target price would suggest a potential upside of 66.67% from the company’s current price.
Other research analysts have also recently issued research reports about the stock. Robert W. Baird cut shares of Mersana Therapeutics from an “outperform” rating to a “neutral” rating in a report on Friday, July 28th. JPMorgan Chase & Co. downgraded shares of Mersana Therapeutics from a “neutral” rating to an “underweight” rating in a research report on Thursday, July 27th. Guggenheim downgraded shares of Mersana Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, July 27th. Citigroup downgraded shares of Mersana Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, July 27th. Finally, Truist Financial restated a “hold” rating on shares of Mersana Therapeutics in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, Mersana Therapeutics currently has a consensus rating of “Hold” and an average price target of $8.57.
Read Our Latest Analysis on Mersana Therapeutics
Mersana Therapeutics Trading Down 2.4 %
Mersana Therapeutics (NASDAQ:MRSN – Get Free Report) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.03). Mersana Therapeutics had a negative return on equity of 223.97% and a negative net margin of 658.85%. The firm had revenue of $10.70 million for the quarter, compared to analyst estimates of $12.93 million. The company’s revenue was up 148.8% on a year-over-year basis. As a group, research analysts expect that Mersana Therapeutics will post -1.7 EPS for the current fiscal year.
Hedge Funds Weigh In On Mersana Therapeutics
Large investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co NY raised its holdings in shares of Mersana Therapeutics by 36.8% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 6,508 shares of the company’s stock worth $38,000 after purchasing an additional 1,750 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Mersana Therapeutics by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 369,786 shares of the company’s stock valued at $1,520,000 after buying an additional 1,757 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Mersana Therapeutics by 1.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 139,819 shares of the company’s stock valued at $646,000 after buying an additional 1,785 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Mersana Therapeutics by 9.4% in the fourth quarter. Russell Investments Group Ltd. now owns 23,409 shares of the company’s stock valued at $137,000 after buying an additional 2,007 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Mersana Therapeutics by 11.3% in the fourth quarter. ProShare Advisors LLC now owns 20,161 shares of the company’s stock valued at $118,000 after buying an additional 2,051 shares in the last quarter. 93.45% of the stock is currently owned by hedge funds and other institutional investors.
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 a research and development collaborations with Janssen Biotech, Inc and Merck KGaA, as well as collaboration agreement with Asana BioSciences, LLC for the development of ADC product candidates.
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