Analysts Set Mersana Therapeutics Inc (MRSN) Target Price at $28.60

Mersana Therapeutics Inc (NASDAQ:MRSN) has been assigned a consensus recommendation of “Buy” from the eight brokerages that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $28.60.

A number of equities analysts recently commented on the company. Wedbush raised their target price on Mersana Therapeutics from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, September 18th. ValuEngine raised Mersana Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, June 29th. Leerink Swann reaffirmed a “market perform” rating and issued a $61.00 target price on shares of Mersana Therapeutics in a report on Friday, July 20th. HC Wainwright set a $16.00 target price on Mersana Therapeutics and gave the stock a “buy” rating in a report on Friday, July 20th. Finally, Robert W. Baird set a $20.00 target price on Mersana Therapeutics and gave the stock a “buy” rating in a report on Wednesday, August 15th.

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In other Mersana Therapeutics news, insider Timothy B. Lowinger sold 3,500 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $13.15, for a total value of $46,025.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 10,500 shares of company stock valued at $125,440 in the last quarter. 39.70% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in Mersana Therapeutics by 23.0% in the 2nd quarter. BlackRock Inc. now owns 1,006,357 shares of the company’s stock worth $17,973,000 after buying an additional 188,353 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Mersana Therapeutics in the 1st quarter worth $2,681,000. Northern Trust Corp increased its stake in Mersana Therapeutics by 13.9% in the 2nd quarter. Northern Trust Corp now owns 127,162 shares of the company’s stock worth $2,271,000 after buying an additional 15,493 shares in the last quarter. Millennium Management LLC purchased a new stake in Mersana Therapeutics in the 2nd quarter worth $2,198,000. Finally, American Century Companies Inc. purchased a new stake in Mersana Therapeutics in the 2nd quarter worth $776,000. Institutional investors and hedge funds own 82.61% of the company’s stock.

Mersana Therapeutics stock traded up $0.12 during trading on Wednesday, reaching $8.36. The company had a trading volume of 85,847 shares, compared to its average volume of 145,223. Mersana Therapeutics has a 52 week low of $8.16 and a 52 week high of $23.96. The stock has a market cap of $231.53 million, a P/E ratio of -2.60 and a beta of -1.42.

Mersana Therapeutics (NASDAQ:MRSN) last announced its earnings results on Wednesday, August 15th. The company reported ($0.54) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.04. Mersana Therapeutics had a negative return on equity of 72.63% and a negative net margin of 276.81%. The company had revenue of $4.19 million for the quarter, compared to analysts’ expectations of $3.74 million. As a group, equities research analysts anticipate that Mersana Therapeutics will post -2.3 EPS for the current fiscal year.

About Mersana Therapeutics

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of oncology therapeutics in the United States and Canada. The company develops Dolaflexin, an antibody drug conjugate (ADC) platform designed to enhance the potency and efficacy of ADCs while simultaneously enhancing the safety and tolerability.

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Analyst Recommendations for Mersana Therapeutics (NASDAQ:MRSN)

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