HC Wainwright set a $33.00 price objective on Mersana Therapeutics (NASDAQ:MRSN) in a research note released on Tuesday morning. The brokerage currently has a buy rating on the stock.
Several other analysts have also recently commented on MRSN. Leerink Swann reissued an outperform rating on shares of Mersana Therapeutics in a report on Wednesday, March 28th. ValuEngine raised Mersana Therapeutics from a sell rating to a hold rating in a report on Wednesday, May 2nd. Robert W. Baird began coverage on Mersana Therapeutics in a report on Monday, May 7th. They issued an outperform rating and a $30.00 price target for the company. Cowen reissued a buy rating on shares of Mersana Therapeutics in a report on Monday, April 16th. Finally, Zacks Investment Research cut Mersana Therapeutics from a buy rating to a hold rating in a report on Friday, March 23rd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $25.67.
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MRSN opened at $16.00 on Tuesday. Mersana Therapeutics has a 12 month low of $15.84 and a 12 month high of $16.80.
Mersana Therapeutics (NASDAQ:MRSN) last posted its quarterly earnings results on Monday, May 14th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.07. The business had revenue of $3.06 million during the quarter, compared to analysts’ expectations of $3.49 million. Mersana Therapeutics had a negative return on equity of 157.55% and a negative net margin of 263.80%. analysts anticipate that Mersana Therapeutics will post -2.54 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. ArrowMark Colorado Holdings LLC raised its holdings in Mersana Therapeutics by 88.4% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 899,773 shares of the company’s stock worth $14,783,000 after purchasing an additional 422,062 shares during the last quarter. BlackRock Inc. raised its holdings in Mersana Therapeutics by 41.7% during the first quarter. BlackRock Inc. now owns 818,004 shares of the company’s stock worth $12,899,000 after purchasing an additional 240,705 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Mersana Therapeutics during the first quarter worth $2,681,000. Northern Trust Corp raised its holdings in Mersana Therapeutics by 111.0% during the first quarter. Northern Trust Corp now owns 111,669 shares of the company’s stock worth $1,761,000 after purchasing an additional 58,743 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Mersana Therapeutics by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 63,173 shares of the company’s stock worth $1,037,000 after purchasing an additional 5,821 shares during the last quarter. 75.64% of the stock is owned by hedge funds and other institutional investors.
About Mersana Therapeutics
Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of oncology therapeutics in the United States and Canada. The company develops Dolaflexin, an antibody drug conjugate (ADC) platform designed to enhance the potency and efficacy of ADCs while simultaneously enhancing the safety and tolerability.
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