Guggenheim Reiterates Neutral Rating for Mersana Therapeutics (NASDAQ:MRSN)
Guggenheim reiterated a "neutral" rating for Mersana Therapeutics (NASDAQ:MRSN). Other analysts have downgraded the stock, with Truist Financial, Wedbush, William Blair, and BTIG Research lowering their ratings. The stock has a consensus "Hold" rating and a target price of $55.55. Mersana's stock traded at $27.84, with a market cap of $138.94 million. Institutional investors hold 93.92% of the stock. Mersana develops ADCs for cancer treatment and collaborates with several biotech companies.
Mersana Therapeutics (NASDAQ:MRSN - Get Free Report)'s stock had its "neutral" rating reissued by research analysts at Guggenheim in a research note issued to investors on Friday,Benzinga reports.
MRSN has been the subject of a number of other research reports. Truist Financial downgraded shares of Mersana Therapeutics from a "buy" rating to a "hold" rating and decreased their target price for the company from $36.00 to $30.75 in a research note on Thursday. Wedbush cut Mersana Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Thursday. William Blair lowered shares of Mersana Therapeutics to a "market perform" rating in a report on Thursday. Wall Street Zen lowered Mersana Therapeutics to a "strong sell" rating in a research report on Saturday, August 2nd. Finally, BTIG Research downgraded Mersana Therapeutics from a "buy" rating to a "hold" rating in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Mersana Therapeutics currently has a consensus rating of "Hold" and a consensus price target of $55.55.
Get Mersana Therapeutics alerts:
Read Our Latest Report on Mersana Therapeutics
Mersana Therapeutics Price Performance
Shares of NASDAQ MRSN traded up $0.41 during mid-day trading on Friday, reaching $27.84. 85,663 shares of the company's stock were exchanged, compared to its average volume of 145,902. Mersana Therapeutics has a 52 week low of $5.21 and a 52 week high of $70.73. The firm has a 50-day moving average price of $8.92 and a two-hundred day moving average price of $8.50. The firm has a market capitalization of $138.94 million, a price-to-earnings ratio of -1.88 and a beta of 0.92.
Mersana Therapeutics (NASDAQ:MRSN - Get Free Report) last issued its quarterly earnings data on Friday, November 14th. The company reported ($1.51) EPS for the quarter, missing the consensus estimate of ($1.44) by ($0.07). The company had revenue of $11.01 million for the quarter, compared to the consensus estimate of $14.20 million. As a group, sell-side analysts forecast that Mersana Therapeutics will post -0.62 EPS for the current fiscal year.
Institutional Investors Weigh In On Mersana Therapeutics
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cerity Partners LLC acquired a new position in Mersana Therapeutics in the 1st quarter valued at $84,000. CWM LLC boosted its holdings in shares of Mersana Therapeutics by 102,580.6% during the first quarter. CWM LLC now owns 184,825 shares of the company's stock worth $64,000 after purchasing an additional 184,645 shares during the last quarter. Invesco Ltd. increased its position in Mersana Therapeutics by 109.3% during the first quarter. Invesco Ltd. now owns 114,863 shares of the company's stock worth $40,000 after purchasing an additional 59,991 shares during the last quarter. Nuveen LLC purchased a new position in shares of Mersana Therapeutics in the 1st quarter worth about $80,000. Finally, Algert Global LLC lifted its holdings in shares of Mersana Therapeutics by 124.7% during the 1st quarter. Algert Global LLC now owns 135,013 shares of the company's stock valued at $46,000 after acquiring an additional 74,930 shares in the last quarter. 93.92% of the stock is currently owned by institutional investors and hedge funds.
Mersana Therapeutics Company Profile
(Get Free Report)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.
Further Reading
- Five stocks we like better than Mersana Therapeutics
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- Rigetti’s Q3 Miss Reveals Quantum Funding and Timing Pressures
- How to Calculate Inflation Rate
- Monolithic Power Surges in 2025—Time to Buy or Hold?
- Comparing and Trading High PE Ratio Stocks
- Tesla Has Been Trapped in a 10% Range for Months—What’s Going On?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Mersana Therapeutics Right Now?
Before you consider Mersana Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mersana Therapeutics wasn't on the list.
While Mersana Therapeutics currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
