Wedbush Expects Increased Earnings for Mersana Therapeutics

Mersana Therapeutics, Inc. (NASDAQ:MRSN - Free Report) - Equities research analysts at Wedbush increased their FY2024 earnings estimates for Mersana Therapeutics in a research report issued to clients and investors on Wednesday, November 13th. Wedbush analyst D. Nierengarten now expects that the company will earn ($0.66) per share for the year, up from their prior forecast of ($0.81). The consensus estimate for Mersana Therapeutics' current full-year earnings is ($0.66) per share. Wedbush also issued estimates for Mersana Therapeutics' Q4 2024 earnings at ($0.20) EPS, Q1 2025 earnings at ($0.23) EPS, Q3 2025 earnings at ($0.18) EPS, Q4 2025 earnings at ($0.18) EPS, FY2025 earnings at ($0.75) EPS, FY2026 earnings at ($0.69) EPS and FY2027 earnings at ($0.62) EPS.

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

Several other equities research analysts have also weighed in on MRSN. Robert W. Baird decreased their price objective on Mersana Therapeutics from $4.00 to $3.00 and set a "neutral" rating for the company in a report on Wednesday, August 14th. Lifesci Capital raised Mersana Therapeutics to a "strong-buy" rating in a research report on Monday, July 29th. Finally, Citigroup began coverage on Mersana Therapeutics in a report on Friday. They set a "buy" rating and a $5.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Mersana Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $6.00.

Mersana Therapeutics Trading Down 5.9 %

NASDAQ MRSN traded down $0.13 during mid-day trading on Monday, reaching $2.08. 1,509,895 shares of the stock were exchanged, compared to its average volume of 1,612,700. The company has a debt-to-equity ratio of 13.35, a current ratio of 2.35 and a quick ratio of 2.72. Mersana Therapeutics has a one year low of $1.22 and a one year high of $6.28. The stock has a 50 day simple moving average of $2.03 and a 200-day simple moving average of $2.05. The stock has a market cap of $256.95 million, a P/E ratio of -3.62 and a beta of 1.50.

Insider Buying and Selling at Mersana Therapeutics

In other Mersana Therapeutics news, CEO Martin H. Jr. Huber sold 50,423 shares of Mersana Therapeutics stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $1.76, for a total transaction of $88,744.48. Following the completion of the sale, the chief executive officer now directly owns 116,327 shares in the company, valued at approximately $204,735.52. The trade was a 30.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 70,849 shares of company stock valued at $129,184 in the last ninety days. Corporate insiders own 11.80% of the company's stock.

Institutional Investors Weigh In On Mersana Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its position in shares of Mersana Therapeutics by 976.7% during the 1st quarter. Russell Investments Group Ltd. now owns 9,453 shares of the company's stock worth $42,000 after purchasing an additional 8,575 shares during the last quarter. US Bancorp DE acquired a new position in Mersana Therapeutics during the 3rd quarter worth approximately $31,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Mersana Therapeutics in the third quarter valued at about $34,000. Intech Investment Management LLC purchased a new position in Mersana Therapeutics in the third quarter valued at about $52,000. Finally, Quarry LP acquired a new stake in shares of Mersana Therapeutics in the third quarter valued at approximately $57,000. Institutional investors and hedge funds own 93.92% of the company's stock.

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.