Mersana Therapeutics (MRSN) Downgraded by JPMorgan Chase & Co. to Underweight

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JPMorgan Chase & Co. downgraded shares of Mersana Therapeutics (NASDAQ:MRSN) from a neutral rating to an underweight rating in a report released on Monday morning, Marketbeat.com reports.

A number of other research firms have also recently issued reports on MRSN. HC Wainwright set a $14.00 price objective on shares of Mersana Therapeutics and gave the stock a buy rating in a research report on Friday, January 4th. Leerink Swann raised shares of Mersana Therapeutics from a market perform rating to an outperform rating in a research report on Wednesday, November 14th. They noted that the move was a valuation call. Robert W. Baird set a $12.00 price objective on shares of Mersana Therapeutics and gave the stock a buy rating in a research report on Friday, March 8th. Finally, ValuEngine cut shares of Mersana Therapeutics from a buy rating to a hold rating in a research report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $21.83.

MRSN stock opened at $5.46 on Monday. The stock has a market cap of $123.82 million, a PE ratio of -1.96 and a beta of 1.74. Mersana Therapeutics has a 1 year low of $2.85 and a 1 year high of $23.96.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings data on Friday, March 8th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.69) by ($0.28). The company had revenue of $1.19 million for the quarter, compared to the consensus estimate of $3.87 million. Mersana Therapeutics had a negative return on equity of 182.45% and a negative net margin of 606.54%. On average, research analysts forecast that Mersana Therapeutics will post -1.85 earnings per share for the current fiscal year.

In other Mersana Therapeutics news, major shareholder Enterprise Associates 14 New bought 3,750,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average price of $4.00 per share, for a total transaction of $15,000,000.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 39.70% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. EcoR1 Capital LLC acquired a new stake in shares of Mersana Therapeutics in the 3rd quarter worth about $4,956,000. JPMorgan Chase & Co. raised its holdings in shares of Mersana Therapeutics by 8.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 318,361 shares of the company’s stock worth $3,183,000 after acquiring an additional 24,058 shares during the last quarter. Hikari Power Ltd acquired a new stake in shares of Mersana Therapeutics in the 4th quarter worth about $348,000. Vanguard Group Inc. raised its holdings in shares of Mersana Therapeutics by 34.4% in the 3rd quarter. Vanguard Group Inc. now owns 601,101 shares of the company’s stock worth $6,011,000 after acquiring an additional 153,923 shares during the last quarter. Finally, Vanguard Group Inc raised its holdings in shares of Mersana Therapeutics by 34.4% in the 3rd quarter. Vanguard Group Inc now owns 601,101 shares of the company’s stock worth $6,011,000 after acquiring an additional 153,923 shares during the last quarter. Institutional investors own 78.16% of the company’s stock.

Mersana Therapeutics Company Profile

Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of oncology therapeutics in the United States and Canada. The company develops Dolaflexin, an antibody drug conjugate (ADC) platform designed to enhance the potency and efficacy of ADCs while simultaneously enhancing the safety and tolerability.

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Analyst Recommendations for Mersana Therapeutics (NASDAQ:MRSN)

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