Mersana Therapeutics (NASDAQ:MRSN) Reaches New 52-Week High at $26.69

Mersana Therapeutics, Inc. (NASDAQ:MRSN)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $26.69 and last traded at $25.60, with a volume of 10829 shares traded. The stock had previously closed at $25.11.

MRSN has been the topic of a number of research analyst reports. BidaskClub raised Mersana Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Zacks Investment Research downgraded Mersana Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 25th. JPMorgan Chase & Co. began coverage on Mersana Therapeutics in a research report on Tuesday, September 29th. They set a “neutral” rating on the stock. SVB Leerink lifted their price objective on Mersana Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, November 9th. Finally, ValuEngine upgraded Mersana Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. Mersana Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $25.60.

The company has a 50-day moving average price of $20.62 and a 200-day moving average price of $19.49. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -18.33 and a beta of 2.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.15 and a current ratio of 13.15.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings data on Monday, November 9th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.02). The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.43 million. Mersana Therapeutics had a negative return on equity of 54.92% and a negative net margin of 4,119.91%. On average, research analysts expect that Mersana Therapeutics, Inc. will post -1.3 earnings per share for the current fiscal year.

In related news, insider Timothy B. Lowinger sold 20,614 shares of the company’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $20.66, for a total value of $425,885.24. Following the completion of the sale, the insider now directly owns 16,160 shares of the company’s stock, valued at approximately $333,865.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Eva M. Jack sold 35,248 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $22.00, for a total value of $775,456.00. Following the completion of the sale, the insider now directly owns 35,248 shares of the company’s stock, valued at $775,456. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,166 shares of company stock valued at $1,462,188. Insiders own 5.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Mersana Therapeutics by 1.6% during the 3rd quarter. BlackRock Inc. now owns 7,252,006 shares of the company’s stock valued at $135,031,000 after acquiring an additional 114,266 shares during the last quarter. State Street Corp raised its stake in shares of Mersana Therapeutics by 88.2% during the 3rd quarter. State Street Corp now owns 2,946,913 shares of the company’s stock worth $54,872,000 after buying an additional 1,381,464 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Mersana Therapeutics by 51.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,864,463 shares of the company’s stock worth $67,028,000 after buying an additional 972,435 shares in the last quarter. Sarissa Capital Management LP raised its stake in shares of Mersana Therapeutics by 10.4% during the 3rd quarter. Sarissa Capital Management LP now owns 2,837,000 shares of the company’s stock worth $52,824,000 after buying an additional 267,000 shares in the last quarter. Finally, Orbimed Advisors LLC raised its stake in shares of Mersana Therapeutics by 41.8% during the 2nd quarter. Orbimed Advisors LLC now owns 1,910,008 shares of the company’s stock worth $44,694,000 after buying an additional 563,287 shares in the last quarter. 95.74% of the stock is owned by hedge funds and other institutional investors.

About Mersana Therapeutics (NASDAQ:MRSN)

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of antibody drug conjugate (ADC) for cancer patients with unmet need. The company develops Dolaflexin, a platform, which is used to generate a pipeline of proprietary ADC product candidates to address patient populations that are not amenable to treat with traditional ADC-based therapies.

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