Mersana Therapeutics (NASDAQ:MRSN) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Mersana Therapeutics (NASDAQ:MRSN) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. They currently have $4.50 price target on the stock.

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. “

Separately, Cowen reaffirmed a buy rating on shares of G1 Therapeutics in a research report on Sunday, June 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $21.50.

Shares of NASDAQ:MRSN opened at $3.97 on Wednesday. Mersana Therapeutics has a 52 week low of $2.85 and a 52 week high of $17.32. The company has a quick ratio of 6.24, a current ratio of 6.24 and a debt-to-equity ratio of 0.02. The business has a 50 day simple moving average of $4.19.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.73. The business had revenue of $41.04 million for 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%. On average, sell-side analysts predict that Mersana Therapeutics will post -0.71 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. NEA Management Company LLC increased its position in shares of Mersana Therapeutics by 46.0% during the first quarter. NEA Management Company LLC now owns 11,894,267 shares of the company’s stock worth $62,564,000 after purchasing an additional 3,750,000 shares in the last quarter. Sphera Funds Management LTD. purchased a new stake in shares of Mersana Therapeutics during the first quarter valued at $1,052,000. Geode Capital Management LLC grew its holdings in shares of Mersana Therapeutics by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 128,232 shares of the company’s stock valued at $523,000 after buying an additional 5,798 shares during the last quarter. Hikari Power Ltd grew its holdings in shares of Mersana Therapeutics by 5.7% during the first quarter. Hikari Power Ltd now owns 90,246 shares of the company’s stock valued at $475,000 after buying an additional 4,850 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in shares of Mersana Therapeutics during the fourth quarter valued at $277,000. 77.40% of the stock is currently owned by institutional investors and hedge funds.

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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