Mersana Therapeutics (NASDAQ:MRSN) Earns "Outperform" Rating from Wedbush

Mersana Therapeutics (NASDAQ:MRSN - Get Free Report)'s stock had its "outperform" rating reaffirmed by analysts at Wedbush in a research report issued on Monday,RTT News reports. They presently have a $4.00 price target on the stock. Wedbush also issued estimates for Mersana Therapeutics' Q1 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.27) EPS, Q4 2025 earnings at ($0.19) EPS, FY2025 earnings at ($0.94) EPS, FY2026 earnings at ($0.75) EPS and FY2027 earnings at ($0.70) EPS.

MRSN has been the subject of several other research reports. Citigroup assumed coverage on shares of Mersana Therapeutics in a research note on Friday, November 15th. They issued a "buy" rating and a $5.00 price objective for the company. William Blair initiated coverage on Mersana Therapeutics in a research report on Thursday, February 6th. They issued an "outperform" rating on the stock. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $4.25.

Mersana Therapeutics Price Performance

Shares of MRSN traded up $0.01 during trading hours on Monday, hitting $0.53. 2,887,377 shares of the stock were exchanged, compared to its average volume of 2,379,244. The stock's 50-day moving average price is $0.77 and its two-hundred day moving average price is $1.55. The company has a debt-to-equity ratio of 13.35, a quick ratio of 2.35 and a current ratio of 2.35. The company has a market cap of $64.88 million, a price-to-earnings ratio of -0.86 and a beta of 1.39. Mersana Therapeutics has a 12-month low of $0.46 and a 12-month high of $6.28.

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Mersana Therapeutics (NASDAQ:MRSN - Get Free Report) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.05. The firm had revenue of $16.36 million for the quarter, compared to analysts' expectations of $7.71 million. Mersana Therapeutics had a negative net margin of 214.20% and a negative return on equity of 401.37%. Research analysts expect that Mersana Therapeutics will post -0.62 earnings per share for the current year.

Institutional Investors Weigh In On Mersana Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp grew its stake in shares of Mersana Therapeutics by 1.6% during the 3rd quarter. State Street Corp now owns 2,725,394 shares of the company's stock valued at $5,151,000 after buying an additional 43,339 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Mersana Therapeutics by 104.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 993,046 shares of the company's stock worth $1,877,000 after purchasing an additional 507,453 shares during the period. JPMorgan Chase & Co. boosted its stake in Mersana Therapeutics by 18.9% in the third quarter. JPMorgan Chase & Co. now owns 2,351,359 shares of the company's stock valued at $4,444,000 after acquiring an additional 374,460 shares during the period. XTX Topco Ltd boosted its holdings in shares of Mersana Therapeutics by 186.0% during the third quarter. XTX Topco Ltd now owns 347,255 shares of the company's stock valued at $656,000 after acquiring an additional 225,823 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Mersana Therapeutics by 28.7% in the fourth quarter. SG Americas Securities LLC now owns 112,291 shares of the company's stock valued at $161,000 after purchasing an additional 25,058 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.