Mersana Therapeutics (NASDAQ:MRSN – Get Rating) had its target price boosted by equities research analysts at SVB Leerink from $13.00 to $14.00 in a report released on Tuesday, Stock Target Advisor reports. The brokerage presently has an “outperform” rating on the stock. SVB Leerink’s price objective would suggest a potential upside of 166.67% from the company’s current price.
A number of other equities research analysts also recently weighed in on MRSN. Robert W. Baird lowered their target price on shares of Mersana Therapeutics from $23.00 to $18.00 in a research note on Tuesday, May 10th. HC Wainwright lowered their target price on shares of Mersana Therapeutics from $24.00 to $19.00 in a research note on Monday, May 9th.
Mersana Therapeutics Trading Up 4.2 %
Shares of Mersana Therapeutics stock opened at $5.25 on Tuesday. Mersana Therapeutics has a 12-month low of $2.68 and a 12-month high of $14.80. The company has a market cap of $509.20 million, a price-to-earnings ratio of -2.11 and a beta of 1.94. The company has a current ratio of 4.28, a quick ratio of 4.28 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average price is $4.58 and its 200-day moving average price is $4.22.
Mersana Therapeutics (NASDAQ:MRSN – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.28). Mersana Therapeutics had a negative return on equity of 119.10% and a negative net margin of 8,826.73%. The firm had revenue of $2.04 million during the quarter, compared to analysts’ expectations of $20.01 million. During the same period in the previous year, the company posted ($0.50) earnings per share. On average, equities analysts expect that Mersana Therapeutics will post -2.13 earnings per share for the current fiscal year.
Insider Activity at Mersana Therapeutics
In related news, Director Andrew A. F. Hack bought 135,292 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were acquired at an average cost of $3.10 per share, with a total value of $419,405.20. Following the completion of the purchase, the director now directly owns 7,872,692 shares of the company’s stock, valued at approximately $24,405,345.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Mersana Therapeutics news, Director Andrew A. F. Hack purchased 100,000 shares of Mersana Therapeutics stock in a transaction on Friday, May 20th. The shares were acquired at an average cost of $3.46 per share, for a total transaction of $346,000.00. Following the completion of the transaction, the director now directly owns 8,287,400 shares of the company’s stock, valued at $28,674,404. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Andrew A. F. Hack purchased 135,292 shares of Mersana Therapeutics stock in a transaction on Monday, May 16th. The shares were acquired at an average price of $3.10 per share, for a total transaction of $419,405.20. Following the completion of the transaction, the director now directly owns 7,872,692 shares of the company’s stock, valued at $24,405,345.20. The disclosure for this purchase can be found here. Insiders have purchased 647,833 shares of company stock valued at $2,123,323 over the last three months. 4.40% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of MRSN. Bridgefront Capital LLC bought a new position in shares of Mersana Therapeutics in the fourth quarter worth approximately $97,000. Walleye Capital LLC grew its holdings in shares of Mersana Therapeutics by 230.9% in the fourth quarter. Walleye Capital LLC now owns 394,760 shares of the company’s stock worth $2,455,000 after purchasing an additional 275,458 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Mersana Therapeutics in the fourth quarter worth approximately $359,000. Swiss National Bank grew its holdings in shares of Mersana Therapeutics by 2.8% in the fourth quarter. Swiss National Bank now owns 126,396 shares of the company’s stock worth $786,000 after purchasing an additional 3,400 shares during the last quarter. Finally, PDT Partners LLC grew its holdings in shares of Mersana Therapeutics by 266.2% in the fourth quarter. PDT Partners LLC now owns 111,670 shares of the company’s stock worth $695,000 after purchasing an additional 81,175 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.
About Mersana Therapeutics
Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company, develops antibody drug conjugates (ADC) for cancer patients with unmet need. It develops XMT-1592, a Dolasynthen ADC targeting NaPi2b-expressing tumor cells, which is in phase I clinical trial for the treatment of ovarian cancer and NSCLC adenocarcinoma.