Mersana Therapeutics’ (MRSN) Hold Rating Reiterated at Truist Financial

Mersana Therapeutics (NASDAQ:MRSN)‘s stock had its “hold” rating reissued by analysts at Truist Financial in a note issued to investors on Thursday,Benzinga reports. They currently have a $30.75 price objective on the stock, down from their previous price objective of $36.00. Truist Financial’s price objective indicates a potential upside of 11.90% from the stock’s previous close.

Several other brokerages have also recently weighed in on MRSN. Wall Street Zen cut Mersana Therapeutics to a “strong sell” rating in a research note on Saturday, August 2nd. BTIG Research reissued a “neutral” rating on shares of Mersana Therapeutics in a report on Thursday. Guggenheim lowered their price objective on shares of Mersana Therapeutics from $125.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, August 14th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Mersana Therapeutics in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Mersana Therapeutics presently has an average rating of “Hold” and an average target price of $55.55.

Mersana Therapeutics Stock Performance

MRSN stock traded up $18.61 on Thursday, reaching $27.48. The company’s stock had a trading volume of 2,870,885 shares, compared to its average volume of 144,892. The firm has a market cap of $137.13 million, a PE ratio of -1.88 and a beta of 0.92. The business has a fifty day simple moving average of $8.51 and a two-hundred day simple moving average of $8.37. Mersana Therapeutics has a 12-month low of $5.21 and a 12-month high of $70.73.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($4.08) EPS for the quarter, missing the consensus estimate of ($3.75) by ($0.33). The business had revenue of $3.06 million for the quarter, compared to analyst estimates of $6.06 million. As a group, research analysts anticipate that Mersana Therapeutics will post -0.62 earnings per share for the current fiscal year.

Institutional Trading of Mersana Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp bought a new stake in shares of Mersana Therapeutics during the third quarter valued at approximately $371,000. Invesco Ltd. raised its position in shares of Mersana Therapeutics by 109.3% during the 1st quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock valued at $40,000 after buying an additional 59,991 shares in the last quarter. Algert Global LLC lifted its holdings in shares of Mersana Therapeutics by 124.7% in the 1st quarter. Algert Global LLC now owns 135,013 shares of the company’s stock valued at $46,000 after acquiring an additional 74,930 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Mersana Therapeutics by 31.4% in the 2nd quarter. Cerity Partners LLC now owns 320,805 shares of the company’s stock worth $95,000 after purchasing an additional 76,570 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Mersana Therapeutics by 156.6% in the second quarter. JPMorgan Chase & Co. now owns 130,094 shares of the company’s stock worth $39,000 after buying an additional 79,390 shares during the last quarter. Institutional investors 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.