Mersana Therapeutics (MRSN) Downgraded by Zacks Investment Research

Mersana Therapeutics (NASDAQ:MRSN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday.

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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MRSN has been the topic of several other reports. HC Wainwright set a $33.00 price target on shares of Mersana Therapeutics and gave the stock a “buy” rating in a research report on Friday, March 2nd. JPMorgan Chase downgraded shares of 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. ValuEngine upgraded shares of Mersana Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, February 2nd. Finally, Leerink Swann reiterated an “outperform” rating on shares of Mersana Therapeutics in a research report on Wednesday, March 28th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $24.80.

MRSN opened at $14.97 on Friday. Mersana Therapeutics has a 1-year low of $12.45 and a 1-year high of $21.01. The company has a market capitalization of $369.65 and a price-to-earnings ratio of -4.65.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings results on Wednesday, March 28th. The company reported ($0.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.13). The business had revenue of $3.26 million for the quarter, compared to analyst estimates of $4.22 million. sell-side analysts predict that Mersana Therapeutics will post -2.44 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in MRSN. Vanguard Group Inc. bought a new stake in shares of Mersana Therapeutics during the 2nd quarter valued at $1,048,000. Bank of New York Mellon Corp bought a new stake in shares of Mersana Therapeutics during the 3rd quarter valued at $231,000. California State Teachers Retirement System bought a new stake in shares of Mersana Therapeutics during the 3rd quarter valued at $142,000. Allianz Asset Management GmbH bought a new stake in shares of Mersana Therapeutics during the 3rd quarter valued at $1,419,000. Finally, Victory Capital Management Inc. raised its position in shares of Mersana Therapeutics by 11.0% during the 4th quarter. Victory Capital Management Inc. now owns 57,930 shares of the company’s stock valued at $952,000 after purchasing an additional 5,730 shares during the period. Hedge funds and other institutional investors own 75.73% of the company’s stock.

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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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