Mersana Therapeutics (NASDAQ:MRSN) Coverage Initiated at Truist Financial

Stock analysts at Truist Financial assumed coverage on shares of Mersana Therapeutics (NASDAQ:MRSNGet Rating) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set a “buy” rating and a $12.00 price target on the stock. Truist Financial’s price objective would indicate a potential upside of 87.21% from the company’s current price.

A number of other analysts also recently issued reports on the stock. SVB Leerink lifted their price objective on shares of Mersana Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, August 9th. Robert W. Baird lifted their target price on shares of Mersana Therapeutics from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 9th. Finally, Wedbush reiterated an “outperform” rating on shares of Mersana Therapeutics in a research report on Tuesday, August 9th.

Mersana Therapeutics Stock Performance

NASDAQ MRSN opened at $6.41 on Monday. The company has a quick ratio of 3.38, a current ratio of 3.38 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $639.55 million, a price-to-earnings ratio of -2.64 and a beta of 1.74. The stock has a fifty day simple moving average of $6.95 and a 200 day simple moving average of $5.82. Mersana Therapeutics has a twelve month low of $2.68 and a twelve month high of $8.34.

Mersana Therapeutics (NASDAQ:MRSNGet Rating) last announced its quarterly earnings results on Monday, November 7th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.58). The business had revenue of $5.57 million during the quarter, compared to the consensus estimate of $38.57 million. Mersana Therapeutics had a negative net margin of 1,749.59% and a negative return on equity of 171.23%. Sell-side analysts expect that Mersana Therapeutics will post -2.29 EPS for the current year.

Hedge Funds Weigh In On Mersana Therapeutics

A number of hedge funds have recently modified their holdings of the company. Balyasny Asset Management LLC boosted its stake in shares of Mersana Therapeutics by 15.0% during the 3rd quarter. Balyasny Asset Management LLC now owns 63,527 shares of the company’s stock valued at $430,000 after purchasing an additional 8,278 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Mersana Therapeutics in the third quarter worth approximately $226,000. Alliancebernstein L.P. lifted its stake in shares of Mersana Therapeutics by 10.9% in the third quarter. Alliancebernstein L.P. now owns 99,700 shares of the company’s stock worth $674,000 after buying an additional 9,800 shares in the last quarter. State Street Corp raised its holdings in shares of Mersana Therapeutics by 150.5% during the third 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. Finally, Public Employees Retirement System of Ohio purchased a new stake in Mersana Therapeutics during the third quarter valued at approximately $151,000. Hedge funds and other institutional investors own 95.12% of the company’s stock.

Mersana Therapeutics Company Profile

(Get Rating)

Mersana Therapeutics, Inc is a clinical-stage biopharmaceutical company, which focuses on developing antibody drug conjugates that offer clinical benefit for cancer patients with significant unmet need. 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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