Mersana Therapeutics (NASDAQ:MRSN) Coverage Initiated at William Blair

William Blair began coverage on shares of Mersana Therapeutics (NASDAQ:MRSN - Free Report) in a research report sent to investors on Thursday, MarketBeat.com reports. The brokerage issued an outperform rating on the stock.

MRSN has been the topic of a number of other reports. Wedbush reiterated an "outperform" rating and issued a $4.00 target price (down from $7.00) on shares of Mersana Therapeutics in a research report on Friday, January 10th. Citigroup initiated coverage on Mersana Therapeutics in a report on Friday, November 15th. They set a "buy" rating and a $5.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Mersana Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $5.57.

Mersana Therapeutics Trading Up 9.7 %

MRSN traded up $0.07 during trading on Thursday, reaching $0.75. 5,485,589 shares of the company traded hands, compared to its average volume of 10,623,143. Mersana Therapeutics has a 12-month low of $0.49 and a 12-month high of $6.28. The firm has a fifty day simple moving average of $1.33 and a 200 day simple moving average of $1.69. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 13.35.

Mersana Therapeutics (NASDAQ:MRSN - Get Free Report) last posted its earnings results on Wednesday, November 13th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.08. The company had revenue of $12.60 million during the quarter, compared to analysts' expectations of $7.53 million. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. Mersana Therapeutics's quarterly revenue was up 63.6% on a year-over-year basis. During the same period last year, the company posted ($0.35) earnings per share. As a group, equities analysts forecast that Mersana Therapeutics will post -0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Mersana Therapeutics

Several large investors have recently modified their holdings of MRSN. US Bancorp DE purchased a new position in Mersana Therapeutics during the third quarter worth $31,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Mersana Therapeutics in the 3rd quarter worth about $34,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Mersana Therapeutics during the 4th quarter worth about $37,000. Intech Investment Management LLC bought a new position in Mersana Therapeutics during the 3rd quarter valued at about $52,000. Finally, Quarry LP purchased a new stake in Mersana Therapeutics in the 3rd quarter worth about $57,000. Institutional investors own 93.92% of the company's stock.

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.