Mersana Therapeutics (MRSN) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Mersana Therapeutics (NASDAQ:MRSN) from a buy rating to a hold rating in a research note released on Friday morning.

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. “

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Other equities analysts also recently issued reports about the company. HC Wainwright assumed coverage on Mersana Therapeutics in a research report on Thursday, February 15th. They set a buy rating on the stock. ValuEngine raised Mersana Therapeutics from a strong sell rating to a sell rating in a research report on Friday, February 2nd. Finally, JPMorgan Chase & Co. downgraded Mersana Therapeutics from an overweight rating to a neutral rating and set a $23.00 price target on the stock. in a research report on Monday, March 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $24.80.

Shares of Mersana Therapeutics (NASDAQ:MRSN) traded up $0.04 during mid-day trading on Friday, hitting $17.80. The stock had a trading volume of 59,420 shares, compared to its average volume of 183,622. Mersana Therapeutics has a 1-year low of $12.45 and a 1-year high of $21.01.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MRSN. TIAA CREF Investment Management LLC increased its position in shares of Mersana Therapeutics by 1,132.7% in the 4th quarter. TIAA CREF Investment Management LLC now owns 8,037 shares of the company’s stock valued at $132,000 after acquiring an additional 7,385 shares during the period. California State Teachers Retirement System acquired a new position in shares of Mersana Therapeutics in the 3rd quarter valued at $142,000. Candriam Luxembourg S.C.A. acquired a new position in shares of Mersana Therapeutics in the 4th quarter valued at $197,000. Bank of New York Mellon Corp acquired a new position in shares of Mersana Therapeutics in the 3rd quarter valued at $231,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Mersana Therapeutics in the 4th quarter valued at $247,000. 75.73% of the stock is currently owned by hedge funds and other institutional investors.

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About Mersana Therapeutics

Mersana Therapeutics, Inc is a United States-based biotechnology company focused on discovering and developing a pipeline of antibody drug conjugates (ADCs). The Company focuses on advancing a pipeline of targeted oncology therapeutics leveraging its Fleximer immunoconjugate technology. The Fleximer platform allows it to design ADCs with specific properties and manage the drug’s chances of attacking cancers.

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Analyst Recommendations for Mersana Therapeutics (NASDAQ:MRSN)

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