Shares of Mersana Therapeutics Inc (NASDAQ:MRSN) have been assigned a consensus recommendation of “Buy” from the six brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $23.67.
A number of equities research analysts have recently weighed in on MRSN shares. Zacks Investment Research raised Mersana Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. ValuEngine raised Mersana Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Friday.
A number of large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its holdings in Mersana Therapeutics by 11.0% during the 4th quarter. Victory Capital Management Inc. now owns 57,930 shares of the company’s stock valued at $952,000 after purchasing an additional 5,730 shares during the period. Allianz Asset Management GmbH purchased a new position in Mersana Therapeutics during the 3rd quarter valued at about $1,419,000. California State Teachers Retirement System purchased a new position in Mersana Therapeutics during the 3rd quarter valued at about $142,000. Bank of New York Mellon Corp purchased a new position in Mersana Therapeutics during the 3rd quarter valued at about $231,000. Finally, Goldman Sachs Group Inc. purchased a new position in Mersana Therapeutics during the 2nd quarter valued at about $699,000. Institutional investors own 76.69% of the company’s stock.
Mersana Therapeutics (NASDAQ:MRSN) traded down $0.16 during midday trading on Friday, hitting $14.07. The stock had a trading volume of 25,629 shares, compared to its average volume of 76,613. Mersana Therapeutics has a 12 month low of $12.71 and a 12 month high of $21.01.
Mersana Therapeutics (NASDAQ:MRSN) last released its earnings results on Thursday, November 9th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.13. The company had revenue of $6.27 million during the quarter, compared to the consensus estimate of $3.93 million. analysts expect that Mersana Therapeutics will post -3.1 earnings per share for the current year.
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About Mersana Therapeutics
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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