FY2024 Earnings Estimate for MRSN Issued By Leerink Partnrs

Mersana Therapeutics, Inc. (NASDAQ:MRSN - Free Report) - Equities research analysts at Leerink Partnrs raised their FY2024 earnings estimates for Mersana Therapeutics in a research report issued on Wednesday, November 13th. Leerink Partnrs analyst J. Chang now forecasts that the company will post earnings of ($0.57) per share for the year, up from their prior estimate of ($0.62). The consensus estimate for Mersana Therapeutics' current full-year earnings is ($0.66) per share. Leerink Partnrs also issued estimates for Mersana Therapeutics' FY2025 earnings at ($0.46) EPS.

A number of other brokerages have also recently weighed in on MRSN. Lifesci Capital upgraded shares of Mersana Therapeutics to a "strong-buy" rating in a research note on Monday, July 29th. Robert W. Baird cut their target price on Mersana Therapeutics from $4.00 to $3.00 and set a "neutral" rating for the company in a research note on Wednesday, August 14th. Finally, Citigroup began coverage on Mersana Therapeutics in a research report on Friday. They issued a "buy" rating and a $5.00 price target on the stock. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Mersana Therapeutics has an average rating of "Moderate Buy" and an average target price of $6.00.

Mersana Therapeutics Stock Performance

Mersana Therapeutics stock traded down $0.13 during mid-day trading on Monday, reaching $2.08. The company's stock had a trading volume of 1,509,895 shares, compared to its average volume of 1,612,700. The firm has a market cap of $256.95 million, a price-to-earnings ratio of -3.62 and a beta of 1.50. The business has a 50 day moving average price of $2.03 and a 200-day moving average price of $2.05. The company has a current ratio of 2.35, a quick ratio of 2.72 and a debt-to-equity ratio of 13.35. Mersana Therapeutics has a twelve month low of $1.22 and a twelve month high of $6.28.

Mersana Therapeutics (NASDAQ:MRSN - Get Free Report) last issued its quarterly earnings results on Wednesday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.17) by $0.08. The business had revenue of $12.60 million during the quarter, compared to analyst estimates of $7.53 million. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. The business's revenue was up 63.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.35) earnings per share.

Insider Transactions at Mersana Therapeutics

In related news, CEO Martin H. Jr. Huber sold 50,423 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $1.76, for a total transaction of $88,744.48. Following the transaction, the chief executive officer now directly owns 116,327 shares of the company's stock, valued at approximately $204,735.52. This represents a 30.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 70,849 shares of company stock valued at $129,184. Corporate insiders own 11.80% of the company's stock.

Hedge Funds Weigh In On Mersana Therapeutics

Several hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Mersana Therapeutics during the first quarter valued at approximately $226,000. BNP Paribas Financial Markets boosted its stake in shares of Mersana Therapeutics by 90.0% during the first quarter. BNP Paribas Financial Markets now owns 80,735 shares of the company's stock valued at $362,000 after purchasing an additional 38,239 shares during the period. Russell Investments Group Ltd. lifted its stake in Mersana Therapeutics by 976.7% in the first quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company's stock worth $42,000 after acquiring an additional 8,575 shares during the period. Vanguard Group Inc. lifted its position in Mersana Therapeutics by 0.6% during the first quarter. Vanguard Group Inc. now owns 6,274,370 shares of the company's stock valued at $28,109,000 after buying an additional 36,782 shares during the period. Finally, Acadian Asset Management LLC lifted its position in Mersana Therapeutics by 166.7% during the first quarter. Acadian Asset Management LLC now owns 468,923 shares of the company's stock valued at $2,099,000 after buying an additional 293,115 shares during the period. 93.92% of the stock is currently owned by hedge funds and other institutional investors.

About Mersana Therapeutics

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.