Mersana Therapeutics (NASDAQ:MRSN) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Mersana Therapeutics (NASDAQ:MRSN) from a buy rating to a hold rating in a research report sent to investors on Saturday morning, Zacks.com reports.

According to Zacks, “Mersana Therapeutics, Inc. is a biotechnology company. It focused on discovering and developing a pipeline of antibody drug conjugates. The company’s product candidates include XMT-1522 and XMT-1536 which are in clinical stage. Mersana Therapeutics, Inc. is based in CAMBRIDGE, United States. “

Several other equities research analysts have also commented on MRSN. Cowen reissued a buy rating on shares of Mersana Therapeutics in a research note on Sunday, June 2nd. ValuEngine raised shares of Mersana Therapeutics from a hold rating to a buy rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $11.63.

Shares of MRSN opened at $2.91 on Friday. Mersana Therapeutics has a 1-year low of $2.78 and a 1-year high of $15.93. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.24 and a quick ratio of 6.24. The company’s 50-day moving average is $3.78. The company has a market cap of $148.69 million, a price-to-earnings ratio of -1.04 and a beta of 1.37.

Mersana Therapeutics (NASDAQ:MRSN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.02. Mersana Therapeutics had a negative net margin of 77.78% and a negative return on equity of 63.92%. The business had revenue of $0.20 million for the quarter, compared to analyst estimates of $1.08 million. As a group, sell-side analysts expect that Mersana Therapeutics will post -0.72 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. Spark Investment Management LLC boosted its stake in Mersana Therapeutics by 7.3% during the first quarter. Spark Investment Management LLC now owns 52,800 shares of the company’s stock worth $277,000 after acquiring an additional 3,600 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Mersana Therapeutics by 41.8% during the second quarter. Russell Investments Group Ltd. now owns 13,900 shares of the company’s stock worth $56,000 after acquiring an additional 4,100 shares in the last quarter. Hikari Power Ltd lifted its stake in shares of Mersana Therapeutics by 5.7% in the first quarter. Hikari Power Ltd now owns 90,246 shares of the company’s stock worth $475,000 after buying an additional 4,850 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Mersana Therapeutics by 4.6% in the second quarter. Parametric Portfolio Associates LLC now owns 122,873 shares of the company’s stock worth $498,000 after buying an additional 5,359 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Mersana Therapeutics by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 128,232 shares of the company’s stock worth $523,000 after buying an additional 5,798 shares in the last quarter. 77.40% of the stock is currently owned by institutional investors and hedge funds.

Mersana Therapeutics Company Profile

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.

Further Reading: Quiet Period Expirations Explained

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