Mersana Therapeutics’ (MRSN) “Outperform” Rating Reiterated at Wedbush

Mersana Therapeutics (NASDAQ:MRSN)‘s stock had its “outperform” rating reissued by stock analysts at Wedbush in a research report issued on Friday,RTT News reports. They currently have a $4.00 price target on the stock, down from their prior price target of $7.00. Wedbush’s target price would indicate a potential upside of 455.56% from the stock’s current price.

Separately, Citigroup assumed coverage on shares of Mersana Therapeutics in a research report on Friday, November 15th. They set a “buy” rating and a $5.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Mersana Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $5.57.

Mersana Therapeutics Stock Performance

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

Mersana Therapeutics (NASDAQ:MRSN) last announced its quarterly earnings data on Wednesday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.08. The business had revenue of $12.60 million for the quarter, compared to the consensus estimate of $7.53 million. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. Mersana Therapeutics’s quarterly revenue was up 63.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.35) earnings per share. Research analysts expect that Mersana Therapeutics will post -0.61 earnings per share for the current year.

Institutional Investors Weigh In On Mersana Therapeutics

Several large investors have recently modified their holdings of MRSN. US Bancorp DE acquired a new position in Mersana Therapeutics in the third quarter valued at about $31,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Mersana Therapeutics in the 3rd quarter worth approximately $34,000. Intech Investment Management LLC bought a new stake in Mersana Therapeutics during the 3rd quarter worth approximately $52,000. Quarry LP bought a new stake in Mersana Therapeutics during the 3rd quarter worth approximately $57,000. Finally, Algert Global LLC acquired a new stake in Mersana Therapeutics during the 2nd quarter valued at $90,000. 93.92% of the stock is currently owned by institutional investors.

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.