Mersana Therapeutics’ (MRSN) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Mersana Therapeutics (NASDAQ:MRSN) in a report issued on Tuesday, TipRanks reports. HC Wainwright currently has a $26.00 price objective on the stock.

A number of other equities research analysts also recently issued reports on MRSN. Robert W. Baird increased their price objective on shares of Mersana Therapeutics from $12.00 to $20.00 and gave the stock an outperform rating in a research note on Thursday, May 28th. BidaskClub upgraded shares of Mersana Therapeutics from a hold rating to a buy rating in a research note on Wednesday, June 17th. Zacks Investment Research upgraded shares of Mersana Therapeutics from a hold rating to a buy rating and set a $6.50 price objective on the stock in a research note on Saturday, March 14th. ValuEngine upgraded shares of Mersana Therapeutics from a hold rating to a buy rating in a research note on Thursday, April 2nd. Finally, BTIG Research began coverage on shares of Mersana Therapeutics in a research note on Wednesday, April 29th. They set a buy rating and a $14.00 price objective on the stock. Eight analysts have rated the stock with a buy rating, Mersana Therapeutics currently has a consensus rating of Buy and an average price target of $21.10.

NASDAQ:MRSN opened at $22.90 on Tuesday. Mersana Therapeutics has a 52 week low of $1.32 and a 52 week high of $24.04. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -16.36 and a beta of 2.83. The firm’s 50-day simple moving average is $16.05 and its 200 day simple moving average is $9.15. The company has a debt-to-equity ratio of 0.24, a quick ratio of 4.59 and a current ratio of 4.59.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.03. The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.37 million. Mersana Therapeutics had a negative net margin of 6,099.64% and a negative return on equity of 78.18%. Sell-side analysts anticipate that Mersana Therapeutics will post -1.23 EPS for the current year.

In other news, major shareholder Scott D. Sandell sold 20,914 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $8.50, for a total value of $177,769.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Andrew A. F. Hack purchased 3,445,667 shares of Mersana Therapeutics stock in a transaction dated Tuesday, April 7th. The stock was bought at an average price of $9.43 per share, for a total transaction of $32,492,639.81. Following the completion of the purchase, the director now owns 538,599 shares in the company, valued at approximately $5,078,988.57. The disclosure for this purchase can be found here. Company insiders own 5.30% of the company’s stock.

A number of large investors have recently bought and sold shares of MRSN. Bank of Montreal Can boosted its position in Mersana Therapeutics by 43.5% during the 4th quarter. Bank of Montreal Can now owns 4,561 shares of the company’s stock worth $26,000 after buying an additional 1,382 shares during the period. Meeder Asset Management Inc. boosted its position in Mersana Therapeutics by 295.1% during the 1st quarter. Meeder Asset Management Inc. now owns 5,507 shares of the company’s stock worth $32,000 after buying an additional 4,113 shares during the period. Citigroup Inc. boosted its position in Mersana Therapeutics by 210.1% during the 4th quarter. Citigroup Inc. now owns 7,197 shares of the company’s stock worth $41,000 after buying an additional 4,876 shares during the period. Prudential Financial Inc. acquired a new stake in Mersana Therapeutics during the 4th quarter worth approximately $58,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Mersana Therapeutics during the 4th quarter worth approximately $60,000. Institutional investors and hedge funds own 72.28% 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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Analyst Recommendations for Mersana Therapeutics (NASDAQ:MRSN)

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