Mersana Therapeutics (NASDAQ:MRSN) Hits New 52-Week High at $23.40

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Mersana Therapeutics Inc (NASDAQ:MRSN) hit a new 52-week high on Monday . The company traded as high as $23.40 and last traded at $22.64, with a volume of 9851100 shares. The stock had previously closed at $22.64.

Several research firms recently commented on MRSN. ValuEngine upgraded Mersana Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, April 2nd. HC Wainwright boosted their target price on shares of Mersana Therapeutics from $13.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. BidaskClub cut shares of Mersana Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, March 17th. Robert W. Baird boosted their target price on shares of Mersana Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday. Finally, BTIG Research assumed coverage on shares of Mersana Therapeutics in a report on Wednesday, April 29th. They set a “buy” rating and a $14.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Mersana Therapeutics currently has a consensus rating of “Buy” and an average price target of $17.50.

The stock has a market cap of $1.33 billion, a P/E ratio of -15.00 and a beta of 2.79. The firm’s fifty day moving average price is $9.75 and its two-hundred day moving average price is $6.80. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.59 and a quick ratio of 4.59.

Mersana Therapeutics (NASDAQ:MRSN) last released its earnings results on Friday, May 8th. The company reported ($0.35) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.03. The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.37 million. Mersana Therapeutics had a negative return on equity of 78.18% and a negative net margin of 6,099.64%. On average, research analysts expect that Mersana Therapeutics Inc will post -1.27 earnings per share for the current fiscal year.

In related news, Director Andrew A. F. Hack acquired 3,445,667 shares of the stock in a transaction on Tuesday, April 7th. The stock was purchased at an average price of $9.43 per share, for a total transaction of $32,492,639.81. Following the completion of the transaction, the director now owns 538,599 shares of the company’s stock, valued at approximately $5,078,988.57. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Scott D. Sandell sold 20,914 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $8.50, for a total value of $177,769.00. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Prudential Financial Inc. bought a new position in shares of Mersana Therapeutics during the fourth quarter valued at approximately $58,000. Oxford Asset Management LLP raised its holdings in shares of Mersana Therapeutics by 13.9% during the fourth quarter. Oxford Asset Management LLP now owns 201,636 shares of the company’s stock valued at $1,155,000 after acquiring an additional 24,546 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Mersana Therapeutics by 92.1% during the fourth quarter. Bank of New York Mellon Corp now owns 194,243 shares of the company’s stock valued at $1,113,000 after acquiring an additional 93,143 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Mersana Therapeutics by 210.1% during the fourth quarter. Citigroup Inc. now owns 7,197 shares of the company’s stock valued at $41,000 after acquiring an additional 4,876 shares in the last quarter. Finally, Bailard Inc. bought a new position in shares of Mersana Therapeutics during the first quarter valued at approximately $845,000. Hedge funds and other institutional investors own 72.28% of the company’s stock.

Mersana Therapeutics Company Profile (NASDAQ:MRSN)

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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