Mersana Therapeutics’ (MRSN) “Outperform” Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of Mersana Therapeutics (NASDAQ:MRSN) in a report issued on Tuesday morning,RTT News reports. They currently have a $3.00 price target on the stock, down from their prior price target of $4.00.

Separately, William Blair assumed coverage on Mersana Therapeutics in a research note on Thursday, February 6th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Mersana Therapeutics has a consensus rating of “Buy” and an average price target of $3.67.

Mersana Therapeutics Stock Down 14.5 %

NASDAQ:MRSN opened at $0.31 on Tuesday. The company has a debt-to-equity ratio of 13.35, a current ratio of 2.35 and a quick ratio of 2.35. Mersana Therapeutics has a one year low of $0.26 and a one year high of $3.63. The firm’s 50 day simple moving average is $0.39 and its 200 day simple moving average is $1.10. The company has a market cap of $38.88 million, a PE ratio of -0.51 and a beta of 1.32.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.05. The company had revenue of $16.36 million for the quarter, compared to analysts’ expectations of $7.71 million. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. On average, research analysts anticipate that Mersana Therapeutics will post -0.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC increased its stake in shares of Mersana Therapeutics by 102,580.6% in the 1st quarter. CWM LLC now owns 184,825 shares of the company’s stock valued at $64,000 after acquiring an additional 184,645 shares in the last quarter. Cerity Partners LLC acquired a new stake in Mersana Therapeutics in the first quarter valued at approximately $84,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Mersana Therapeutics during the first quarter valued at approximately $45,000. Pallas Capital Advisors LLC acquired a new position in shares of Mersana Therapeutics during the first quarter worth approximately $33,000. Finally, Mackenzie Financial Corp bought a new position in shares of Mersana Therapeutics in the 4th quarter worth $131,000. 93.92% of the stock is 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.