Analysts Set Mersana Therapeutics, Inc. (NASDAQ:MRSN) Target Price at $14.71

Mersana Therapeutics, Inc. (NASDAQ:MRSN – Get Rating) has received a consensus recommendation of “Buy” from the eight research firms that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $14.71.

MRSN has been the subject of several analyst reports. Truist Financial assumed coverage on shares of Mersana Therapeutics in a research report on Monday, November 21st. They set a “buy” rating and a $12.00 price target for the company. JPMorgan Chase & Co. upgraded Mersana Therapeutics from a “neutral” rating to an “overweight” rating and set a $10.00 price target for the company in a research note on Thursday. Citigroup began coverage on Mersana Therapeutics in a research report on Friday, January 20th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, BTIG Research reduced their price objective on Mersana Therapeutics from $26.00 to $16.00 in a report on Wednesday, March 1st.

Insider Activity at Mersana Therapeutics

In other news, CEO Anna Protopapas sold 17,346 shares of the stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $5.74, for a total value of $99,566.04. Following the transaction, the chief executive officer now owns 48,733 shares in the company, valued at approximately $279,727.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Anna Protopapas sold 17,346 shares of Mersana Therapeutics stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $5.74, for a total transaction of $99,566.04. Following the transaction, the chief executive officer now owns 48,733 shares in the company, valued at approximately $279,727.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian Deschuytner sold 5,131 shares of the company’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $5.74, for a total value of $29,451.94. Following the completion of the sale, the chief financial officer now owns 32,781 shares of the company’s stock, valued at $188,162.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,719 shares of company stock worth $164,847. 4.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MRSN. Bain Capital Life Sciences Investors LLC boosted its holdings in Mersana Therapeutics by 32.8% in the 2nd quarter. Bain Capital Life Sciences Investors LLC now owns 8,663,673 shares of the company’s stock worth $40,026,000 after buying an additional 2,141,643 shares during the period. BlackRock Inc. grew its position in shares of Mersana Therapeutics by 2.0% during the first quarter. BlackRock Inc. now owns 7,626,196 shares of the company’s stock worth $30,427,000 after purchasing an additional 146,967 shares in the last quarter. Bellevue Group AG lifted its holdings in Mersana Therapeutics by 4.8% in the 3rd quarter. Bellevue Group AG now owns 4,082,600 shares of the company’s stock worth $27,599,000 after purchasing an additional 187,400 shares in the last quarter. State Street Corp lifted its holdings in Mersana Therapeutics by 150.5% in the 3rd quarter. State Street Corp now owns 4,059,020 shares of the company’s stock worth $27,439,000 after purchasing an additional 2,438,690 shares in the last quarter. Finally, Woodline Partners LP bought a new position in Mersana Therapeutics in the 2nd quarter worth approximately $14,606,000. 92.40% of the stock is owned by hedge funds and other institutional investors.

Mersana Therapeutics Price Performance

NASDAQ MRSN opened at $4.67 on Thursday. The stock’s fifty day moving average price is $5.92 and its 200-day moving average price is $6.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.49 and a quick ratio of 3.49. Mersana Therapeutics has a 12 month low of $2.68 and a 12 month high of $8.34.

Mersana Therapeutics (NASDAQ:MRSN – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.03. The company had revenue of $14.69 million for the quarter, compared to the consensus estimate of $27.85 million. Mersana Therapeutics had a negative net margin of 768.26% and a negative return on equity of 178.80%. On average, sell-side analysts expect that Mersana Therapeutics will post -1.83 earnings per share for the current year.

About Mersana Therapeutics

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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.