Mersana Therapeutics (NASDAQ:MRSN) Earns Neutral Rating from Guggenheim

Mersana Therapeutics (NASDAQ:MRSN)‘s stock had its “neutral” rating reiterated by Guggenheim in a report issued on Friday,Benzinga reports.

Several other analysts have also issued reports on the stock. BTIG Research lowered shares of Mersana Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mersana Therapeutics in a research note on Wednesday, October 8th. William Blair lowered Mersana Therapeutics to a “market perform” rating in a research report on Thursday. Truist Financial downgraded shares of Mersana Therapeutics from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $36.00 to $30.75 in a report on Thursday. Finally, Wedbush lowered Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Mersana Therapeutics has an average rating of “Hold” and a consensus target price of $55.55.

Mersana Therapeutics Trading Up 1.5%

NASDAQ MRSN traded up $0.41 during trading on Friday, reaching $27.84. The company’s stock had a trading volume of 85,663 shares, compared to its average volume of 145,902. The stock has a market capitalization of $138.94 million, a PE ratio of -1.88 and a beta of 0.92. The business has a 50-day moving average price of $8.92 and a 200-day moving average price of $8.50. Mersana Therapeutics has a 1-year low of $5.21 and a 1-year high of $70.73.

Mersana Therapeutics (NASDAQ:MRSN) last announced its earnings results on Friday, November 14th. The company reported ($1.51) EPS for the quarter, missing the consensus estimate of ($1.44) by ($0.07). The firm had revenue of $11.01 million during the quarter, compared to analyst estimates of $14.20 million. As a group, analysts expect that Mersana Therapeutics will post -0.62 earnings per share for the current year.

Institutional Trading of Mersana Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC purchased a new position in Mersana Therapeutics during the 1st quarter worth $1,770,000. Acadian Asset Management LLC purchased a new position in Mersana Therapeutics in the 1st quarter valued at $1,028,000. 683 Capital Management LLC increased its holdings in shares of Mersana Therapeutics by 20.6% in the second quarter. 683 Capital Management LLC now owns 1,990,000 shares of the company’s stock valued at $589,000 after purchasing an additional 340,000 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Mersana Therapeutics by 19.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,333,124 shares of the company’s stock valued at $459,000 after purchasing an additional 221,126 shares during the last quarter. Finally, Ieq Capital LLC acquired a new stake in shares of Mersana Therapeutics during the 1st quarter worth about $243,000. 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.