Zacks: Analysts Expect Mersana Therapeutics Inc (MRSN) Will Announce Quarterly Sales of $3.87 Million

Wall Street brokerages expect that Mersana Therapeutics Inc (NASDAQ:MRSN) will report $3.87 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Mersana Therapeutics’ earnings, with the highest sales estimate coming in at $5.00 million and the lowest estimate coming in at $3.00 million. Mersana Therapeutics reported sales of $3.26 million in the same quarter last year, which indicates a positive year-over-year growth rate of 18.7%. The firm is expected to announce its next quarterly earnings report on Wednesday, March 27th.

On average, analysts expect that Mersana Therapeutics will report full-year sales of $13.27 million for the current year, with estimates ranging from $12.41 million to $14.41 million. For the next fiscal year, analysts anticipate that the company will post sales of $20.04 million, with estimates ranging from $12.23 million to $27.05 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Mersana Therapeutics.

Mersana Therapeutics (NASDAQ:MRSN) last issued its earnings results on Tuesday, November 13th. The company reported ($0.75) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.16). The company had revenue of $2.15 million for the quarter, compared to analyst estimates of $3.98 million. Mersana Therapeutics had a negative return on equity of 110.44% and a negative net margin of 440.47%.

Several brokerages have recently weighed in on MRSN. Wedbush boosted their target price on Mersana Therapeutics from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, September 18th. HC Wainwright lifted their price target on shares of Mersana Therapeutics from $11.06 to $23.00 and gave the company a “buy” rating in a research report on Monday, September 17th. They noted that the move was a valuation call. Robert W. Baird set a $20.00 price target on shares of Mersana Therapeutics and gave the company a “buy” rating in a research report on Wednesday, August 15th. Finally, Leerink Swann raised shares of Mersana Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 14th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Mersana Therapeutics currently has an average rating of “Buy” and an average target price of $26.83.

In other news, insider Timothy B. Lowinger sold 3,500 shares of Mersana Therapeutics stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $11.63, for a total transaction of $40,705.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 39.70% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers purchased a new stake in shares of Mersana Therapeutics in the second quarter valued at about $211,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Mersana Therapeutics by 20.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 24,500 shares of the company’s stock valued at $438,000 after buying an additional 4,200 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Mersana Therapeutics by 27.4% in the second quarter. Bank of New York Mellon Corp now owns 31,615 shares of the company’s stock valued at $564,000 after buying an additional 6,804 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of Mersana Therapeutics in the second quarter valued at about $776,000. Finally, Millennium Management LLC purchased a new stake in shares of Mersana Therapeutics in the second quarter valued at about $2,198,000. 85.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Mersana Therapeutics stock traded up $0.09 on Monday, hitting $5.31. 54,400 shares of the company were exchanged, compared to its average volume of 136,625. The stock has a market cap of $121.01 million, a P/E ratio of -1.63 and a beta of 1.10. Mersana Therapeutics has a 1-year low of $5.07 and a 1-year high of $23.96.

About Mersana Therapeutics

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of oncology therapeutics in the United States and Canada. The company develops Dolaflexin, an antibody drug conjugate (ADC) platform designed to enhance the potency and efficacy of ADCs while simultaneously enhancing the safety and tolerability.

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