Mersana Therapeutics (NASDAQ:MRSN) Given Outperform Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Mersana Therapeutics (NASDAQ:MRSN) in a report issued on Friday morning,RTT News reports. Wedbush currently has a $4.00 price target on the stock, down from their previous price target of $7.00.

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 for the company. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.57.

Mersana Therapeutics Stock Performance

NASDAQ:MRSN opened at $0.72 on Friday. The firm has a market capitalization of $88.94 million, a PE ratio of -1.18 and a beta of 1.43. Mersana Therapeutics has a 1 year low of $0.69 and a 1 year high of $6.28. 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 firm’s fifty day simple moving average is $1.97 and its 200 day simple moving average is $1.88.

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

Institutional Investors Weigh In On Mersana Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE bought a new position in shares of Mersana Therapeutics during the 3rd quarter worth about $31,000. Dynamic Technology Lab Private Ltd bought a new position in Mersana Therapeutics during the third quarter worth about $34,000. Intech Investment Management LLC acquired a new stake in Mersana Therapeutics during the third quarter valued at approximately $52,000. Quarry LP bought a new stake in shares of Mersana Therapeutics in the 3rd quarter valued at approximately $57,000. Finally, Algert Global LLC acquired a new position in shares of Mersana Therapeutics in the 2nd quarter worth approximately $90,000. Institutional investors 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.