Wall Street Zen Upgrades Mersana Therapeutics (NASDAQ:MRSN) to “Sell”

Mersana Therapeutics (NASDAQ:MRSN) was upgraded by Wall Street Zen to a “sell” rating in a research note issued on Saturday.

MRSN has been the subject of a number of other research reports. BTIG Research lowered shares of Mersana Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, November 13th. William Blair downgraded shares of Mersana Therapeutics from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, November 13th. Leerink Partnrs downgraded shares of Mersana Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Mersana Therapeutics in a report on Monday, December 29th. Finally, Guggenheim cut Mersana Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, November 14th. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Mersana Therapeutics has a consensus rating of “Reduce” and an average target price of $38.19.

Mersana Therapeutics Stock Up 0.1%

MRSN opened at $29.08 on Friday. The business has a fifty day moving average of $25.15 and a 200 day moving average of $13.96. The stock has a market cap of $145.37 million, a P/E ratio of -2.10 and a beta of 0.44. Mersana Therapeutics has a 52-week low of $5.21 and a 52-week high of $36.25.

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

Hedge Funds Weigh In On Mersana Therapeutics

A number of large investors have recently bought and sold shares of MRSN. Voleon Capital Management LP bought a new stake in Mersana Therapeutics during the 3rd quarter valued at $102,000. Bank of America Corp DE lifted its stake in shares of Mersana Therapeutics by 230.6% during the 3rd quarter. Bank of America Corp DE now owns 66,397 shares of the company’s stock worth $515,000 after purchasing an additional 46,314 shares during the last quarter. Mackenzie Financial Corp bought a new stake in Mersana Therapeutics during the third quarter valued at about $371,000. Invesco Ltd. grew its stake in Mersana Therapeutics by 109.3% in the first quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock valued at $40,000 after purchasing an additional 59,991 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in Mersana Therapeutics by 31.4% in the second quarter. Cerity Partners LLC now owns 320,805 shares of the company’s stock valued at $95,000 after purchasing an additional 76,570 shares during the last quarter. Institutional investors own 93.92% of the company’s stock.

About Mersana Therapeutics

Mersana Therapeutics, Inc is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the development of innovative antibody-drug conjugates (ADCs) for the treatment of cancer. Since its founding in 2003, Mersana has leveraged its proprietary Fleximer® platform to engineer next-generation ADCs that aim to improve the therapeutic index by enhancing drug delivery to tumor cells while minimizing systemic toxicity. The company’s research efforts are centered on creating highly potent payloads linked to antibodies that selectively target tumor-associated antigens.

The Fleximer platform enables site-specific conjugation of multiple payload molecules, offering adjustable drug-to-antibody ratios and controlled release characteristics.