Mersana Therapeutics (NASDAQ:MRSN) Downgraded by Wedbush to Hold

Mersana Therapeutics (NASDAQ:MRSN) was downgraded by Wedbush from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. William Blair lowered Mersana Therapeutics to a “market perform” rating in a research note on Thursday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mersana Therapeutics in a research note on Wednesday, October 8th. BTIG Research reiterated a “neutral” rating on shares of Mersana Therapeutics in a research report on Thursday. Wall Street Zen cut shares of Mersana Therapeutics to a “strong sell” rating in a report on Saturday, August 2nd. Finally, Truist Financial restated a “hold” rating and issued a $30.75 price target (down from $36.00) on shares of Mersana Therapeutics in a research note on Thursday. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Mersana Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $55.55.

Mersana Therapeutics Stock Up 209.2%

MRSN stock opened at $27.43 on Thursday. The company’s 50-day moving average price is $8.92 and its two-hundred day moving average price is $8.50. Mersana Therapeutics has a 12 month low of $5.21 and a 12 month high of $70.73. The firm has a market cap of $136.88 million, a P/E ratio of -1.88 and a beta of 0.92.

Mersana Therapeutics (NASDAQ:MRSN) last announced its quarterly earnings data on Friday, November 14th. The company reported ($1.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.44) by ($0.07). The company had revenue of $11.01 million for the quarter, compared to analyst estimates of $14.20 million. Equities analysts predict that Mersana Therapeutics will post -0.62 EPS for the current year.

Institutional Trading of Mersana Therapeutics

A number of hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of Mersana Therapeutics by 156.6% during the second quarter. JPMorgan Chase & Co. now owns 130,094 shares of the company’s stock worth $39,000 after purchasing an additional 79,390 shares during the last quarter. Invesco Ltd. boosted its position in Mersana Therapeutics by 109.3% during the 1st quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock worth $40,000 after buying an additional 59,991 shares during the period. Algert Global LLC grew its holdings in Mersana Therapeutics by 124.7% during the 1st 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 last quarter. CWM LLC grew its holdings in Mersana Therapeutics by 102,580.6% during the 1st quarter. CWM LLC now owns 184,825 shares of the company’s stock worth $64,000 after acquiring an additional 184,645 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Mersana Therapeutics in the 2nd quarter valued at approximately $68,000. 93.92% of the stock is owned by institutional investors and hedge funds.

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.