Zacks Investment Research lowered shares of Mersana Therapeutics (NASDAQ:MRSN) from a buy rating to a hold rating in a research note issued to investors on Saturday morning, Zacks.com reports.

According to Zacks, “Mersana Therapeutics, Inc. is a biotechnology company. It focused on discovering and developing a pipeline of antibody drug conjugates. The company’s product candidates include XMT-1522 and XMT-1536 which are in clinical stage. Mersana Therapeutics, Inc. is based in CAMBRIDGE, United States. “

Several other analysts also recently issued reports on MRSN. Cowen reissued a buy rating on shares of Mersana Therapeutics in a research note on Sunday, June 2nd. ValuEngine raised Mersana Therapeutics from a hold rating to a buy rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $11.63.

MRSN opened at $2.91 on Friday. The firm has a 50-day moving average price of $3.78. Mersana Therapeutics has a 1 year low of $2.78 and a 1 year high of $15.93. The firm has a market cap of $148.69 million, a P/E ratio of -1.04 and a beta of 1.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.24 and a quick ratio of 6.24.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.02. Mersana Therapeutics had a negative return on equity of 63.92% and a negative net margin of 77.78%. The firm had revenue of $0.20 million for the quarter, compared to the consensus estimate of $1.08 million. Research analysts expect that Mersana Therapeutics will post -0.72 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. purchased a new position in Mersana Therapeutics in the 2nd quarter worth $676,000. BlackRock Inc. raised its position in Mersana Therapeutics by 166.2% in the 2nd quarter. BlackRock Inc. now owns 2,390,463 shares of the company’s stock worth $9,681,000 after purchasing an additional 1,492,618 shares during the period. Parametric Portfolio Associates LLC raised its position in Mersana Therapeutics by 4.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 122,873 shares of the company’s stock worth $498,000 after purchasing an additional 5,359 shares during the period. Northern Trust Corp raised its position in Mersana Therapeutics by 13.4% in the 2nd quarter. Northern Trust Corp now owns 204,194 shares of the company’s stock worth $827,000 after purchasing an additional 24,126 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Mersana Therapeutics in the 2nd quarter worth $94,000. 77.40% of the stock is currently owned by hedge funds and other institutional investors.

About Mersana Therapeutics

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of antibody drug conjugate (ADC) for cancer patients with unmet need. The company develops Dolaflexin, a platform, which is used to generate a pipeline of proprietary ADC product candidates to address patient populations that are not amenable to treat with traditional ADC-based therapies.

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