Citigroup Cuts Mersana Therapeutics (NASDAQ:MRSN) Price Target to $5.00

Mersana Therapeutics (NASDAQ:MRSN) had its target price lowered by Citigroup from $6.00 to $5.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also issued reports on MRSN. Lifesci Capital upgraded Mersana Therapeutics to a strong-buy rating in a research note on Monday, July 29th. Robert W. Baird reduced their target price on Mersana Therapeutics from $4.00 to $3.00 and set a neutral rating for the company in a research note on Wednesday, August 14th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $6.00.

Mersana Therapeutics Stock Performance

Shares of MRSN opened at $1.52 on Tuesday. Mersana Therapeutics has a 12 month low of $1.07 and a 12 month high of $6.28. The stock has a fifty day moving average price of $1.79 and a 200-day moving average price of $2.97. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 0.72. The firm has a market cap of $185.99 million, a PE ratio of -1.33 and a beta of 1.55.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The business had revenue of $2.30 million for the quarter, compared to analysts’ expectations of $8.72 million. Mersana Therapeutics had a negative net margin of 352.01% and a negative return on equity of 260.65%. The business’s revenue for the quarter was down 78.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.47) EPS. Equities research analysts predict that Mersana Therapeutics will post -0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mersana Therapeutics

A number of institutional investors have recently modified their holdings of MRSN. Victory Capital Management Inc. acquired a new stake in shares of Mersana Therapeutics during the 4th quarter valued at about $30,000. Foundations Investment Advisors LLC acquired a new stake in Mersana Therapeutics in the 4th quarter worth about $237,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Mersana Therapeutics in the 1st quarter worth about $226,000. BNP Paribas Financial Markets boosted its holdings in Mersana Therapeutics by 90.0% in the 1st quarter. BNP Paribas Financial Markets now owns 80,735 shares of the company’s stock worth $362,000 after buying an additional 38,239 shares during the last quarter. Finally, ClariVest Asset Management LLC acquired a new stake in Mersana Therapeutics in the 1st quarter worth about $2,114,000. 93.92% of the stock is currently owned by institutional investors and hedge funds.

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.