Mersana Therpts (MRSN) Issues Earnings Results

Mersana Therpts (NASDAQ:MRSN) released its earnings results on Friday. The company reported ($6.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.56) by $5.77, Bloomberg Earnings reports. The business had revenue of $3.73 million during the quarter, compared to analysts’ expectations of $3.33 million.

Shares of Mersana Therpts (NASDAQ MRSN) traded up 1.78% during mid-day trading on Friday, hitting $15.42. The stock had a trading volume of 15,235 shares. Mersana Therpts has a 52 week low of $12.71 and a 52 week high of $15.87. The stock’s market capitalization is $349.20 million. The stock has a 50 day moving average of $14.41 and a 200-day moving average of $14.41.

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A number of research firms have issued reports on MRSN. J P Morgan Chase & Co began coverage on Mersana Therpts in a report on Monday, July 24th. They issued an “overweight” rating and a $23.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $25.00 price objective on shares of Mersana Therpts in a report on Monday, July 24th. Cowen and Company began coverage on Mersana Therpts in a report on Monday, July 24th. They set an “outperform” rating on the stock. Finally, Leerink Swann began coverage on Mersana Therpts in a report on Monday, July 24th. They set an “outperform” rating and a $23.00 price objective on the stock.

In other news, major shareholder M James Barrett bought 1,000,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were bought at an average price of $15.00 per share, with a total value of $15,000,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

An institutional investor recently bought a new position in Mersana Therpts stock. Vanguard Group Inc. purchased a new position in Mersana Therpts (NASDAQ:MRSN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 75,000 shares of the company’s stock, valued at approximately $1,048,000. Vanguard Group Inc. owned approximately 0.33% of Mersana Therpts at the end of the most recent reporting period. 35.99% of the stock is currently owned by hedge funds and other institutional investors.

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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