Mersana Therapeutics (NASDAQ:MRSN) Downgraded to “Sell” at ValuEngine

ValuEngine downgraded shares of Mersana Therapeutics (NASDAQ:MRSN) from a hold rating to a sell rating in a report published on Wednesday morning, ValuEngine reports.

A number of other research analysts have also recently weighed in on MRSN. HC Wainwright restated a buy rating and set a $7.00 target price on shares of Mersana Therapeutics in a research note on Friday, January 10th. Zacks Investment Research upgraded shares of Mersana Therapeutics from a hold rating to a buy rating and set a $6.00 target price on the stock in a research note on Wednesday, January 8th. BidaskClub upgraded shares of Mersana Therapeutics from a buy rating to a strong-buy rating in a research note on Friday, December 27th. Finally, Cowen restated a buy rating on shares of Mersana Therapeutics in a research note on Monday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $8.33.

Shares of Mersana Therapeutics stock traded up $0.74 on Wednesday, hitting $6.90. 89,670 shares of the company’s stock were exchanged, compared to its average volume of 395,645. The company has a 50-day simple moving average of $4.75 and a 200-day simple moving average of $3.15. The stock has a market capitalization of $294.94 million, a PE ratio of -2.46 and a beta of 2.35. Mersana Therapeutics has a 1 year low of $1.32 and a 1 year high of $7.65. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.12 and a current ratio of 5.12.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.35) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.02. The business had revenue of $0.84 million for the quarter, compared to analysts’ expectations of $0.50 million. Mersana Therapeutics had a negative net margin of 79.49% and a negative return on equity of 41.14%. On average, analysts expect that Mersana Therapeutics will post -0.59 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Walleye Trading LLC purchased a new position in shares of Mersana Therapeutics during the 2nd quarter valued at $54,000. Jefferies Group LLC purchased a new stake in Mersana Therapeutics in the 2nd quarter worth $56,000. Russell Investments Group Ltd. lifted its stake in Mersana Therapeutics by 41.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 13,900 shares of the company’s stock worth $56,000 after purchasing an additional 4,100 shares in the last quarter. Walleye Trading Advisors LLC purchased a new stake in Mersana Therapeutics in the 2nd quarter worth $57,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Mersana Therapeutics in the 2nd quarter worth $94,000. Institutional investors own 80.37% of the company’s stock.

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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