Mersana Therapeutics (NASDAQ:MRSN) Given “Buy” Rating at Guggenheim

Guggenheim restated their buy rating on shares of Mersana Therapeutics (NASDAQ:MRSN) in a report published on Friday,Benzinga reports. They currently have a $5.00 target price on the stock.

Other equities analysts also recently issued reports about the stock. William Blair initiated coverage on shares of Mersana Therapeutics in a research note on Thursday, February 6th. They issued an “outperform” rating on the stock. Wedbush restated an “outperform” rating and issued a $3.00 target price on shares of Mersana Therapeutics in a research note on Thursday. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $5.20.

Mersana Therapeutics Price Performance

MRSN stock opened at $0.34 on Friday. Mersana Therapeutics has a 12 month low of $0.26 and a 12 month high of $2.83. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 13.35. The company has a 50-day moving average price of $0.37 and a 200 day moving average price of $1.01. The stock has a market cap of $42.39 million, a PE ratio of -0.56 and a beta of 1.32.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.02. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. The firm had revenue of $2.75 million during the quarter, compared to analysts’ expectations of $6.05 million. Equities 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 have recently bought and sold shares of MRSN. Pallas Capital Advisors LLC acquired a new position in Mersana Therapeutics during the 1st quarter valued at approximately $33,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Mersana Therapeutics in the fourth quarter worth $37,000. Invesco Ltd. increased its stake in shares of Mersana Therapeutics by 109.3% in the first quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock worth $40,000 after acquiring an additional 59,991 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Mersana Therapeutics in the first quarter worth $45,000. Finally, Algert Global LLC increased its stake in shares of Mersana Therapeutics by 124.7% in the first quarter. Algert Global LLC now owns 135,013 shares of the company’s stock worth $46,000 after acquiring an additional 74,930 shares during the period. Institutional investors and hedge funds own 93.92% of the company’s stock.

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.