Brokerages Expect Mersana Therpts (MRSN) to Post ($0.56) EPS
Mersana Therpts (NASDAQ:MRSN) has earned an average broker rating score of 1.00 (Strong Buy) from the four brokers that cover the stock, Zacks Investment Research reports. Four investment analysts have rated the stock with a strong buy recommendation.
Brokers have set a 12-month consensus target price of $23.67 for the company and are anticipating that the company will post ($0.56) earnings per share for the current quarter, according to Zacks. Zacks has also given Mersana Therpts an industry rank of 108 out of 265 based on the ratings given to related companies.
MRSN has been the topic of a number of research reports. J P Morgan Chase & Co initiated coverage on Mersana Therpts in a report on Monday, July 24th. They set an “overweight” rating and a $23.00 price target on the stock. Wedbush reissued an “outperform” rating and set a $25.00 price target on shares of Mersana Therpts in a report on Monday, July 24th. Leerink Swann initiated coverage on Mersana Therpts in a report on Monday, July 24th. They set an “outperform” rating and a $23.00 price target on the stock. Finally, Cowen and Company started coverage on Mersana Therpts in a report on Monday, July 24th. They set an “outperform” rating on the stock.
In other news, major shareholder M James Barrett acquired 1,000,000 shares of Mersana Therpts stock in a transaction that occurred on Monday, July 3rd. The stock was purchased at an average price of $15.00 per share, for a total transaction of $15,000,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
A number of large investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale purchased a new stake in shares of Mersana Therpts during the second quarter worth approximately $676,000. Victory Capital Management Inc. purchased a new stake in shares of Mersana Therpts during the second quarter worth approximately $754,000. Finally, RHO Capital Partners Inc. purchased a new stake in shares of Mersana Therpts during the second quarter worth approximately $11,428,000. Hedge funds and other institutional investors own 35.99% of the company’s stock.
Shares of Mersana Therpts (NASDAQ:MRSN) traded up 0.60% on Wednesday, reaching $15.10. The company had a trading volume of 15,908 shares. The firm’s market capitalization is $341.95 million. Mersana Therpts has a 12 month low of $12.71 and a 12 month high of $15.87. The firm’s 50 day moving average is $14.19 and its 200 day moving average is $14.19.
About Mersana Therpts
Mersana Therapeutics, Inc is a United States-based biotechnology company focused on discovering and developing a pipeline of antibody drug conjugates (ADCs). The Company focuses on advancing a pipeline of targeted oncology therapeutics leveraging its Fleximer immunoconjugate technology. The Fleximer platform allows it to design ADCs with specific properties and manage the drug’s chances of attacking cancers.
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