Brokerages Set Mersana Therapeutics, Inc. (NASDAQ:MRSN) Target Price at $4.25

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $4.25.

Several equities research analysts recently commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $4.00 price target on shares of Mersana Therapeutics in a report on Monday, March 3rd. William Blair began coverage on Mersana Therapeutics in a research report on Thursday, February 6th. They issued an “outperform” rating for the company.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp purchased a new position in Mersana Therapeutics in the fourth quarter worth approximately $131,000. Sphera Funds Management LTD. purchased a new position in shares of Mersana Therapeutics during the fourth quarter worth $987,000. Nuveen Asset Management LLC boosted its position in shares of Mersana Therapeutics by 53.6% during the fourth quarter. Nuveen Asset Management LLC now owns 232,223 shares of the company’s stock worth $332,000 after buying an additional 81,022 shares during the period. Millennium Management LLC boosted its position in shares of Mersana Therapeutics by 206.4% during the fourth quarter. Millennium Management LLC now owns 795,973 shares of the company’s stock worth $1,138,000 after buying an additional 536,190 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Mersana Therapeutics by 12.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,111,998 shares of the company’s stock worth $1,590,000 after buying an additional 118,952 shares during the period. 93.92% of the stock is currently owned by hedge funds and other institutional investors.

Mersana Therapeutics Price Performance

NASDAQ:MRSN opened at $0.48 on Thursday. Mersana Therapeutics has a one year low of $0.44 and a one year high of $5.11. The company has a debt-to-equity ratio of 13.35, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a market cap of $59.70 million, a PE ratio of -0.79 and a beta of 1.67. The stock has a 50 day moving average price of $0.62 and a 200 day moving average price of $1.49.

Mersana Therapeutics (NASDAQ:MRSN) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.05. Mersana Therapeutics had a negative return on equity of 401.37% and a negative net margin of 214.20%. The firm had revenue of $16.36 million during the quarter, compared to analysts’ expectations of $7.71 million. Equities research analysts expect that Mersana Therapeutics will post -0.62 EPS for the current fiscal year.

About Mersana Therapeutics

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company, develops antibody drug conjugates (ADC) for cancer patients with unmet needs. The company develops XMT-1660, a B7-H4-targeted Dolasynthen ADC candidate; and XMT-2056, an immunosynthen ADC. It has research and development collaborations with Janssen Biotech, Inc, Ares Trading SA, Merck KGaA, and Asana BioSciences, LLC for the development of ADC product candidates.