Mersana Therapeutics (NASDAQ:MRSN) Receives “Hold” Rating from Truist Financial

Mersana Therapeutics (NASDAQ:MRSN)‘s stock had its “hold” rating reiterated by Truist Financial in a report released on Thursday,Benzinga reports. They presently have a $30.75 price objective on the stock, down from their prior price objective of $36.00. Truist Financial’s price objective would indicate a potential upside of 11.90% from the stock’s current price.

Several other brokerages have also issued reports on MRSN. Guggenheim decreased their price target on shares of Mersana Therapeutics from $125.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Mersana Therapeutics in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Mersana Therapeutics to a “strong sell” rating in a report on Saturday, August 2nd. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Mersana Therapeutics in a report on Thursday. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $55.55.

Mersana Therapeutics Price Performance

Shares of MRSN stock traded up $18.61 on Thursday, hitting $27.48. The stock had a trading volume of 2,870,885 shares, compared to its average volume of 144,892. The business has a 50 day moving average of $8.51 and a 200 day moving average of $8.37. The stock has a market cap of $137.13 million, a price-to-earnings ratio of -1.88 and a beta of 0.92. Mersana Therapeutics has a 12-month low of $5.21 and a 12-month high of $70.73.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($4.08) earnings per share for the quarter, missing the consensus estimate of ($3.75) by ($0.33). The company had revenue of $3.06 million for the quarter, compared to analyst estimates of $6.06 million. As a group, research analysts expect that Mersana Therapeutics will post -0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp bought a new stake in shares of Mersana Therapeutics in the 3rd quarter valued at about $371,000. Invesco Ltd. boosted its stake in shares of Mersana Therapeutics by 109.3% during the first quarter. Invesco Ltd. now owns 114,863 shares of the company’s stock valued at $40,000 after purchasing an additional 59,991 shares during the period. Algert Global LLC grew its holdings in shares of Mersana Therapeutics by 124.7% in the first quarter. Algert Global LLC now owns 135,013 shares of the company’s stock worth $46,000 after purchasing an additional 74,930 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Mersana Therapeutics by 31.4% in the second quarter. Cerity Partners LLC now owns 320,805 shares of the company’s stock worth $95,000 after purchasing an additional 76,570 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Mersana Therapeutics by 156.6% in the second quarter. JPMorgan Chase & Co. now owns 130,094 shares of the company’s stock worth $39,000 after buying an additional 79,390 shares during the period. 93.92% of the stock is currently owned by institutional investors.

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.