Mersana Therapeutics (NASDAQ:MRSN) Earns Outperform Rating from Analysts at William Blair

William Blair initiated coverage on shares of Mersana Therapeutics (NASDAQ:MRSN) in a report issued on Thursday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating on the stock.

MRSN has been the topic of a number of other research reports. Wedbush reissued an “outperform” rating and issued a $4.00 target price (down previously from $7.00) on shares of Mersana Therapeutics in a report on Friday, January 10th. Citigroup began coverage on shares of Mersana Therapeutics in a research note on Friday, November 15th. They issued a “buy” rating and a $5.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.57.

Mersana Therapeutics Price Performance

MRSN opened at $0.68 on Thursday. Mersana Therapeutics has a twelve month low of $0.49 and a twelve month high of $6.28. The company has a debt-to-equity ratio of 13.35, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a 50 day moving average price of $1.36 and a 200-day moving average price of $1.70.

Mersana Therapeutics (NASDAQ:MRSN) last announced its earnings results on Wednesday, November 13th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.08. The business had revenue of $12.60 million during the quarter, compared to analyst estimates of $7.53 million. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. The company’s quarterly revenue was up 63.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.35) EPS. As a group, equities research analysts predict that Mersana Therapeutics will post -0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Mersana Therapeutics

A number of hedge funds have recently modified their holdings of MRSN. US Bancorp DE bought a new stake in shares of Mersana Therapeutics during the 3rd quarter valued at $31,000. Dynamic Technology Lab Private Ltd bought a new stake in Mersana Therapeutics during the third quarter valued at about $34,000. China Universal Asset Management Co. Ltd. bought a new stake in Mersana Therapeutics during the fourth quarter valued at about $37,000. Intech Investment Management LLC purchased a new position in shares of Mersana Therapeutics in the third quarter valued at about $52,000. Finally, Quarry LP bought a new position in shares of Mersana Therapeutics in the third quarter worth about $57,000. 93.92% of the stock is currently owned by institutional investors.

Mersana Therapeutics Company Profile

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.