Cowen reiterated their buy rating on shares of Mersana Therapeutics (NASDAQ:MRSN) in a report published on Sunday, June 2nd, AnalystRatings.com reports.
MRSN has been the subject of a number of other reports. Zacks Investment Research upgraded Mersana Therapeutics from a hold rating to a buy rating and set a $5.00 price objective for the company in a report on Wednesday, March 13th. Robert W. Baird set a $12.00 price objective on Mersana Therapeutics and gave the stock a buy rating in a report on Friday, March 8th. Finally, JPMorgan Chase & Co. downgraded Mersana Therapeutics from a neutral rating to an underweight rating in a report on Monday, March 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $21.60.
Shares of MRSN traded down $0.24 during trading hours on Friday, hitting $4.03. 152,600 shares of the stock traded hands, compared to its average volume of 214,207. The company has a quick ratio of 6.24, a current ratio of 6.24 and a debt-to-equity ratio of 0.02. Mersana Therapeutics has a 1-year low of $2.85 and a 1-year high of $20.16. The stock has a market capitalization of $192.78 million, a price-to-earnings ratio of -1.44 and a beta of 1.58. The firm has a fifty day simple moving average of $4.69.
Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.73. The business had revenue of $41.04 million during the quarter, compared to the consensus estimate of $30.11 million. Mersana Therapeutics had a negative return on equity of 57.49% and a negative net margin of 61.68%. As a group, equities research analysts expect that Mersana Therapeutics will post -0.71 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MRSN. Rhumbline Advisers increased its stake in shares of Mersana Therapeutics by 46.2% during the fourth quarter. Rhumbline Advisers now owns 16,102 shares of the company’s stock worth $66,000 after purchasing an additional 5,090 shares during the period. Bank of America Corp DE increased its stake in shares of Mersana Therapeutics by 1,409.6% during the fourth quarter. Bank of America Corp DE now owns 31,807 shares of the company’s stock worth $129,000 after purchasing an additional 29,700 shares during the period. Vanguard Group Inc. increased its stake in Mersana Therapeutics by 34.4% during the 3rd quarter. Vanguard Group Inc. now owns 601,101 shares of the company’s stock worth $6,011,000 after acquiring an additional 153,923 shares during the period. Spark Investment Management LLC increased its stake in Mersana Therapeutics by 7.3% during the 1st quarter. Spark Investment Management LLC now owns 52,800 shares of the company’s stock worth $277,000 after acquiring an additional 3,600 shares during the period. Finally, Vanguard Group Inc increased its stake in Mersana Therapeutics by 34.4% during the 3rd quarter. Vanguard Group Inc now owns 601,101 shares of the company’s stock worth $6,011,000 after acquiring an additional 153,923 shares during the period. 77.40% of the stock is owned by institutional investors.
Mersana Therapeutics Company Profile
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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