Lifesci Capital Downgrades Mersana Therapeutics (NASDAQ:MRSN) to Hold
Lifesci Capital downgraded Mersana Therapeutics (NASDAQ:MRSN) from a "strong-buy" to a "hold" rating. Other analysts, including Guggenheim, BTIG Research, Truist Financial, Wedbush, and William Blair, also downgraded the stock. The stock has an average rating of "Reduce" and a price target of $38.19. Mersana's shares rose to $27.92, with a market cap of $139.35 million. The company reported a quarterly loss, missing estimates. Institutional investors hold 93.92% of the stock. Mersana develops ADCs for cancer treatment and collaborates with several biotech firms.
Mersana Therapeutics (NASDAQ:MRSN - Get Free Report) was downgraded by research analysts at Lifesci Capital from a "strong-buy" rating to a "hold" rating in a report issued on Thursday,Zacks.com reports.
Other equities research analysts also recently issued reports about the stock. Guggenheim reissued a "neutral" rating on shares of Mersana Therapeutics in a report on Friday. BTIG Research lowered shares of Mersana Therapeutics from a "buy" rating to a "hold" rating in a report on Thursday. Truist Financial downgraded shares of Mersana Therapeutics from a "buy" rating to a "hold" rating and cut their price target for the company from $36.00 to $30.75 in a report on Thursday. Wedbush lowered shares of Mersana Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Finally, William Blair cut shares of Mersana Therapeutics from a "strong-buy" rating to a "market perform" rating in a report on Thursday. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $38.19.
Get Mersana Therapeutics alerts:
View Our Latest Stock Analysis on Mersana Therapeutics
Mersana Therapeutics Price Performance
Shares of NASDAQ:MRSN traded up $0.49 during trading on Thursday, hitting $27.92. 419,769 shares of the company were exchanged, compared to its average volume of 194,946. Mersana Therapeutics has a 52-week low of $5.21 and a 52-week high of $70.73. The stock has a 50 day moving average of $9.34 and a 200 day moving average of $8.63. The company has a market cap of $139.35 million, a PE ratio of -1.91 and a beta of 0.92.
Mersana Therapeutics (NASDAQ:MRSN - Get Free Report) last released its quarterly earnings data on Friday, November 14th. The company reported ($1.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.44) by ($0.07). The company had revenue of $11.01 million during the quarter, compared to the consensus estimate of $14.20 million. Sell-side analysts forecast that Mersana Therapeutics will post -0.62 EPS for the current fiscal year.
Institutional Trading of Mersana Therapeutics
A number of hedge funds have recently made changes to their positions in MRSN. JPMorgan Chase & Co. grew its position in Mersana Therapeutics by 156.6% in the second quarter. JPMorgan Chase & Co. now owns 130,094 shares of the company's stock worth $39,000 after acquiring an additional 79,390 shares in the last quarter. Invesco Ltd. lifted its stake 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. Algert Global LLC boosted its holdings in shares of Mersana Therapeutics by 124.7% in the 1st quarter. Algert Global LLC now owns 135,013 shares of the company's stock worth $46,000 after purchasing an additional 74,930 shares in the last quarter. CWM LLC boosted its holdings in shares of Mersana Therapeutics by 102,580.6% in the 1st quarter. CWM LLC now owns 184,825 shares of the company's stock worth $64,000 after purchasing an additional 184,645 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Mersana Therapeutics during the 2nd quarter valued at about $68,000. 93.92% of the stock is owned by institutional investors.
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.
See Also
- Five stocks we like better than Mersana Therapeutics
- What is diluted earnings per share (Diluted EPS)?
- Your Thanksgiving Playbook: 3 Stocks Set to Benefit From Football Fever
- How to Evaluate a Stock Before Buying
- MarketBeat Week in Review – 11/10 - 11/14
- What is a penny stock? A comprehensive guide
- Are These 3 Oversold Tech Giants Ready to Rebound?
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
