Wedbush Reaffirms Outperform Rating for Mersana Therapeutics (NASDAQ:MRSN)

Mersana Therapeutics (NASDAQ:MRSN)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a note issued to investors on Friday,RTT News reports. They presently have a $4.00 price objective on the stock, down from their prior price objective of $7.00. Wedbush’s price target would suggest a potential upside of 455.56% from the stock’s current price.

Separately, Citigroup began coverage on Mersana Therapeutics in a report on Friday, November 15th. They set a “buy” rating and a $5.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.57.

Mersana Therapeutics Trading Down 44.6 %

MRSN traded down $0.58 during trading on Friday, reaching $0.72. The company had a trading volume of 59,861,995 shares, compared to its average volume of 11,380,588. The company has a debt-to-equity ratio of 13.35, a quick ratio of 2.35 and a current ratio of 2.35. Mersana Therapeutics has a 12-month low of $0.69 and a 12-month high of $6.28. The company has a market cap of $88.94 million, a price-to-earnings ratio of -1.18 and a beta of 1.43. The firm’s 50-day simple moving average is $2.00 and its 200 day simple moving average is $1.89.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Wednesday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.08. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. The business had revenue of $12.60 million for the quarter, compared to analyst estimates of $7.53 million. During the same quarter in the previous year, the business earned ($0.35) earnings per share. The firm’s revenue was up 63.6% compared to the same quarter last year. Equities research analysts anticipate that Mersana Therapeutics will post -0.61 earnings per share for the current year.

Hedge Funds Weigh In On Mersana Therapeutics

A number of hedge funds have recently added to or reduced their stakes in MRSN. JPMorgan Chase & Co. grew its position in Mersana Therapeutics by 18.9% in the third quarter. JPMorgan Chase & Co. now owns 2,351,359 shares of the company’s stock worth $4,444,000 after acquiring an additional 374,460 shares in the last quarter. Exome Asset Management LLC acquired a new stake in shares of Mersana Therapeutics in the 3rd quarter valued at $2,227,000. Barclays PLC boosted its holdings in Mersana Therapeutics by 32.7% in the third quarter. Barclays PLC now owns 494,516 shares of the company’s stock worth $934,000 after purchasing an additional 121,799 shares in the last quarter. XTX Topco Ltd increased its position in Mersana Therapeutics by 186.0% during the third quarter. XTX Topco Ltd now owns 347,255 shares of the company’s stock worth $656,000 after buying an additional 225,823 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Mersana Therapeutics by 16.0% during the third quarter. Wellington Management Group LLP now owns 618,305 shares of the company’s stock valued at $1,169,000 after buying an additional 85,439 shares in the last quarter. Institutional investors and hedge funds own 93.92% of the company’s stock.

Mersana Therapeutics Company Profile

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.