Mersana Therapeutics (NASDAQ:MRSN) Cut to “Hold” at BTIG Research

BTIG Research lowered shares of Mersana Therapeutics (NASDAQ:MRSN) from a buy rating to a hold rating in a research report report published on Thursday, Marketbeat reports.

Several other equities analysts have also recently weighed in on MRSN. Weiss Ratings restated a “sell (e+)” rating on shares of Mersana Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Mersana Therapeutics to a “strong sell” rating in a research report on Saturday, August 2nd. Guggenheim reduced their price objective on shares of Mersana Therapeutics from $125.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 14th. Finally, Truist Financial decreased their price objective on shares of Mersana Therapeutics from $250.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, August 14th. Seven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $38.19.

Mersana Therapeutics Stock Performance

Shares of NASDAQ MRSN opened at $27.92 on Thursday. The stock has a market cap of $139.32 million, a price-to-earnings ratio of -2.01 and a beta of 0.92. Mersana Therapeutics has a fifty-two week low of $5.21 and a fifty-two week high of $70.73. The firm’s 50-day simple moving average is $9.34 and its 200 day simple moving average is $8.63.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings data on Friday, November 14th. The company reported ($1.51) EPS for the quarter, missing the consensus estimate of ($1.44) by ($0.07). The firm had revenue of $11.01 million during the quarter, compared to analysts’ expectations of $14.20 million. On average, sell-side analysts predict that Mersana Therapeutics will post -0.62 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRSN. Mackenzie Financial Corp purchased a new stake in shares of Mersana Therapeutics during the 3rd quarter worth approximately $371,000. 683 Capital Management LLC increased its position in Mersana Therapeutics by 20.6% in the second quarter. 683 Capital Management LLC now owns 1,990,000 shares of the company’s stock worth $589,000 after buying an additional 340,000 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Mersana Therapeutics in the second quarter valued at $151,000. Cerity Partners LLC lifted its position in shares of Mersana Therapeutics by 31.4% during the 2nd quarter. Cerity Partners LLC now owns 320,805 shares of the company’s stock valued at $95,000 after buying an additional 76,570 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Mersana Therapeutics during the 2nd quarter worth $68,000. 93.92% of the stock is currently owned by hedge funds and other institutional investors.

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.