HC Wainwright Reaffirms “Buy” Rating for Mersana Therapeutics (NASDAQ:MRSN)

HC Wainwright reaffirmed their buy rating on shares of Mersana Therapeutics (NASDAQ:MRSN) in a report released on Thursday, November 7th, AnalystRatings.com reports. The firm currently has a $7.00 target price on the stock.

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Several other research firms have also weighed in on MRSN. ValuEngine upgraded shares of Mersana Therapeutics from a hold rating to a buy rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of Mersana Therapeutics from a sell rating to a hold rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $7.83.

MRSN opened at $3.98 on Thursday. The firm has a market cap of $185.30 million, a price-to-earnings ratio of -1.43 and a beta of 2.09. Mersana Therapeutics has a fifty-two week low of $1.32 and a fifty-two week high of $7.65. The company’s 50-day moving average price is $2.37 and its 200 day moving average price is $3.05. The company has a quick ratio of 5.12, a current ratio of 5.12 and a debt-to-equity ratio of 0.06.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.02. The firm had revenue of $0.84 million for the quarter, compared to analyst estimates of $0.50 million. Mersana Therapeutics had a negative net margin of 79.49% and a negative return on equity of 41.14%. Research analysts anticipate that Mersana Therapeutics will post -0.6 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Walleye Trading LLC bought a new position in Mersana Therapeutics in the 2nd quarter worth about $54,000. Jefferies Group LLC bought a new position in Mersana Therapeutics in the 2nd quarter worth about $56,000. Russell Investments Group Ltd. grew its position in Mersana Therapeutics by 41.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 13,900 shares of the company’s stock worth $56,000 after purchasing an additional 4,100 shares during the last quarter. Walleye Trading Advisors LLC bought a new position in Mersana Therapeutics in the 2nd quarter worth about $57,000. Finally, Public Employees Retirement System of Ohio bought a new position in Mersana Therapeutics in the 2nd quarter worth about $94,000. Hedge funds and other institutional investors own 80.37% of the company’s stock.

About Mersana Therapeutics

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of antibody drug conjugate (ADC) for cancer patients with unmet need. The company develops Dolaflexin, a platform, which is used to generate a pipeline of proprietary ADC product candidates to address patient populations that are not amenable to treat with traditional ADC-based therapies.

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