Mersana Therapeutics (NASDAQ:MRSN) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of Mersana Therapeutics (NASDAQ:MRSN) from a hold rating to a buy rating in a research note published on Thursday morning, ValuEngine reports.

Several other equities analysts have also commented on MRSN. BidaskClub lowered Mersana Therapeutics from a buy rating to a hold rating in a research report on Tuesday, March 17th. HC Wainwright reaffirmed a buy rating and issued a $13.00 target price on shares of Mersana Therapeutics in a research report on Monday, March 2nd. Cowen reaffirmed a buy rating on shares of Mersana Therapeutics in a research report on Monday, January 13th. Finally, Zacks Investment Research raised Mersana Therapeutics from a hold rating to a buy rating and set a $6.50 target price on the stock in a research report on Saturday, March 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Mersana Therapeutics presently has a consensus rating of Buy and a consensus price target of $9.75.

Mersana Therapeutics stock traded up $0.14 during midday trading on Thursday, hitting $5.38. 248,504 shares of the company were exchanged, compared to its average volume of 506,792. The company’s fifty day moving average price is $7.08 and its 200-day moving average price is $4.70. The company has a market cap of $238.05 million, a PE ratio of -15.37 and a beta of 1.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.21 and a quick ratio of 4.21. Mersana Therapeutics has a fifty-two week low of $1.32 and a fifty-two week high of $9.57.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Friday, February 28th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.04. The firm had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.50 million. Mersana Therapeutics had a negative return on equity of 27.93% and a negative net margin of 66.97%. On average, analysts expect that Mersana Therapeutics will post -1.48 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of MRSN. Bank of Montreal Can increased its holdings in shares of Mersana Therapeutics by 43.5% in the 4th quarter. Bank of Montreal Can now owns 4,561 shares of the company’s stock valued at $26,000 after acquiring an additional 1,382 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Mersana Therapeutics by 210.1% in the 4th quarter. Citigroup Inc. now owns 7,197 shares of the company’s stock valued at $41,000 after acquiring an additional 4,876 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of Mersana Therapeutics in the 4th quarter valued at approximately $58,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Mersana Therapeutics in the 4th quarter valued at approximately $60,000. Finally, Millennium Management LLC increased its holdings in shares of Mersana Therapeutics by 136.0% in the 3rd quarter. Millennium Management LLC now owns 42,524 shares of the company’s stock valued at $67,000 after acquiring an additional 160,624 shares during the last quarter. Institutional investors and hedge funds own 78.05% of the company’s stock.

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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