Mersana Therpts (NASDAQ:MRSN) Posts Quarterly Earnings Results, Misses Estimates By $5.77 EPS
Mersana Therpts (NASDAQ:MRSN) posted its quarterly earnings data on Friday. The company reported ($6.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by $5.77, Bloomberg Earnings reports. The firm had revenue of $3.73 million during the quarter, compared to analysts’ expectations of $3.33 million.
Mersana Therpts (NASDAQ:MRSN) traded up 1.78% on Friday, hitting $15.42. The stock had a trading volume of 15,235 shares. The company’s market cap is $349.20 million. The stock’s 50-day moving average is $14.41 and its 200-day moving average is $14.41. Mersana Therpts has a 52-week low of $12.71 and a 52-week high of $15.87.
Several research analysts have recently weighed in on MRSN shares. Wedbush reissued an “outperform” rating and issued a $25.00 price objective on shares of Mersana Therpts in a research report on Monday, July 24th. J P Morgan Chase & Co started coverage on Mersana Therpts in a research report on Monday, July 24th. They issued an “overweight” rating and a $23.00 price objective for the company. Cowen and Company started coverage on Mersana Therpts in a research report on Monday, July 24th. They issued an “outperform” rating for the company. Finally, Leerink Swann started coverage on Mersana Therpts in a research report on Monday, July 24th. They issued an “outperform” rating and a $23.00 price objective for the company.
In related news, major shareholder M James Barrett acquired 1,000,000 shares of the stock in a transaction on Monday, July 3rd. The stock was acquired at an average cost 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 is available through the SEC website.
An institutional investor recently bought a new position in Mersana Therpts stock. Vanguard Group Inc. acquired a new stake in Mersana Therpts (NASDAQ:MRSN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 75,000 shares of the company’s stock, valued at approximately $1,048,000. Vanguard Group Inc. owned about 0.33% of Mersana Therpts as of its most recent filing with the SEC. 35.99% of the stock is currently owned by institutional investors and hedge funds.
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Mersana Therpts Company Profile
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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