Brokerages Set Mersana Therapeutics, Inc. (NASDAQ:MRSN) Target Price at $6.29

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has received an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $6.29.

A number of analysts recently issued reports on the company. Robert W. Baird boosted their price target on Mersana Therapeutics from $1.00 to $5.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. upgraded Mersana Therapeutics from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a report on Tuesday, March 19th. BTIG Research upgraded Mersana Therapeutics from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a report on Thursday, February 29th. Wedbush upgraded Mersana Therapeutics from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $2.00 to $7.00 in a report on Thursday, February 29th. Finally, Truist Financial upgraded Mersana Therapeutics from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a report on Thursday, February 29th.

Mersana Therapeutics Price Performance

Shares of Mersana Therapeutics stock opened at $3.21 on Friday. The stock’s 50-day simple moving average is $4.45 and its 200-day simple moving average is $2.94. Mersana Therapeutics has a 52 week low of $0.80 and a 52 week high of $9.62. The company has a market capitalization of $389.37 million, a price-to-earnings ratio of -2.14 and a beta of 1.50. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 0.63.

Mersana Therapeutics (NASDAQ:MRSN) last issued its earnings results on Wednesday, February 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.16). Mersana Therapeutics had a negative return on equity of 282.36% and a negative net margin of 465.80%. The firm had revenue of $10.70 million for the quarter, compared to analysts’ expectations of $22.59 million. During the same period in the previous year, the firm posted ($0.44) earnings per share. The business’s revenue was down 27.1% compared to the same quarter last year. As a group, analysts expect that Mersana Therapeutics will post -0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mersana Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRSN. Fox Run Management L.L.C. acquired a new position in shares of Mersana Therapeutics during the 3rd quarter worth about $28,000. Victory Capital Management Inc. acquired a new position in shares of Mersana Therapeutics during the 4th quarter worth about $30,000. Nisa Investment Advisors LLC boosted its position in shares of Mersana Therapeutics by 479.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 17,643 shares of the company’s stock worth $41,000 after acquiring an additional 14,600 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Mersana Therapeutics by 73.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 37,062 shares of the company’s stock worth $47,000 after acquiring an additional 15,723 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC acquired a new position in shares of Mersana Therapeutics during the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 93.92% of the company’s stock.

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.