Mersana Therapeutics (NASDAQ:MRSN) Given New $10.00 Price Target at Truist Financial

Mersana Therapeutics (NASDAQ:MRSN) had its target price boosted by Truist Financial from $9.00 to $10.00 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

MRSN has been the subject of several other research reports. William Blair assumed coverage on shares of Mersana Therapeutics in a research report on Thursday, February 6th. They issued an “outperform” rating for the company. Wedbush restated an “outperform” rating and set a $3.00 price objective on shares of Mersana Therapeutics in a research report on Thursday. Finally, Guggenheim restated a “buy” rating and set a $5.00 price objective on shares of Mersana Therapeutics in a research report on Friday. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $5.20.

Mersana Therapeutics Stock Up 8.1%

MRSN stock opened at $0.34 on Friday. The company has a fifty day moving average price of $0.37 and a 200 day moving average price of $1.01. Mersana Therapeutics has a 12 month low of $0.26 and a 12 month high of $2.83. The company has a market cap of $42.39 million, a price-to-earnings ratio of -0.56 and a beta of 1.32. The company has a debt-to-equity ratio of 13.35, a current ratio of 2.35 and a quick ratio of 2.35.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.02. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. The firm had revenue of $2.75 million during the quarter, compared to the consensus estimate of $6.05 million. Sell-side analysts expect that Mersana Therapeutics will post -0.62 earnings per share for the current year.

Hedge Funds Weigh In On Mersana Therapeutics

Large investors have recently bought and sold shares of the company. Novo Holdings A S purchased a new position in Mersana Therapeutics during the 4th quarter worth $6,078,000. JPMorgan Chase & Co. grew its stake in shares of Mersana Therapeutics by 18.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,351,359 shares of the company’s stock worth $4,444,000 after purchasing an additional 374,460 shares during the period. SG Americas Securities LLC grew its stake in shares of Mersana Therapeutics by 28.7% during the 4th quarter. SG Americas Securities LLC now owns 112,291 shares of the company’s stock worth $161,000 after purchasing an additional 25,058 shares during the period. Renaissance Technologies LLC grew its stake in shares of Mersana Therapeutics by 23.0% during the 4th quarter. Renaissance Technologies LLC now owns 606,285 shares of the company’s stock worth $867,000 after purchasing an additional 113,566 shares during the period. Finally, Sei Investments Co. acquired a new position in shares of Mersana Therapeutics during the 4th quarter worth $99,000. Hedge funds and other institutional investors own 93.92% of the company’s stock.

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.