Mersana Therapeutics (NASDAQ:MRSN) had its price objective hoisted by stock analysts at HC Wainwright from $11.06 to $23.00 in a research report issued on Monday, The Fly reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 89.30% from the stock’s current price. The analysts noted that the move was a valuation call.

A number of other equities analysts have also weighed in on MRSN. ValuEngine raised Mersana Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, June 29th. Leerink Swann reissued a “market perform” rating and set a $61.00 price objective on shares of Mersana Therapeutics in a research note on Friday, July 20th. Zacks Investment Research raised Mersana Therapeutics from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Wednesday, June 6th. Finally, Robert W. Baird set a $20.00 price target on Mersana Therapeutics and gave the company a “buy” rating in a research note on Wednesday, August 15th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $26.83.

NASDAQ MRSN traded up $1.01 on Monday, reaching $12.15. 1,910 shares of the company were exchanged, compared to its average volume of 104,594. The firm has a market capitalization of $332.95 million, a P/E ratio of -3.59 and a beta of -1.89. Mersana Therapeutics has a fifty-two week low of $8.76 and a fifty-two week high of $23.96.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings data on Wednesday, August 15th. The company reported ($0.54) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.04. The company had revenue of $4.19 million for the quarter, compared to analyst estimates of $3.74 million. Mersana Therapeutics had a negative return on equity of 72.63% and a negative net margin of 276.81%. equities research analysts predict that Mersana Therapeutics will post -2.32 earnings per share for the current fiscal year.

In other news, insider Timothy B. Lowinger sold 3,500 shares of the stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $11.06, for a total value of $38,710.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 39.70% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of MRSN. BlackRock Inc. lifted its stake in Mersana Therapeutics by 23.0% during the second quarter. BlackRock Inc. now owns 1,006,357 shares of the company’s stock worth $17,973,000 after purchasing an additional 188,353 shares during the period. Point72 Asset Management L.P. bought a new stake in Mersana Therapeutics in the 1st quarter valued at about $2,681,000. Millennium Management LLC bought a new stake in shares of Mersana Therapeutics during the 2nd quarter worth approximately $2,198,000. Northern Trust Corp lifted its holdings in shares of Mersana Therapeutics by 111.0% during the 1st quarter. Northern Trust Corp now owns 111,669 shares of the company’s stock worth $1,761,000 after acquiring an additional 58,743 shares during the period. Finally, American Century Companies Inc. acquired a new position in Mersana Therapeutics during the 2nd quarter worth approximately $776,000. 82.61% of the stock is currently owned by institutional investors and hedge funds.

Mersana Therapeutics Company Profile

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of oncology therapeutics in the United States and Canada. The company develops Dolaflexin, an antibody drug conjugate (ADC) platform designed to enhance the potency and efficacy of ADCs while simultaneously enhancing the safety and tolerability.

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Analyst Recommendations for Mersana Therapeutics (NASDAQ:MRSN)

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