Mersana Therapeutics Inc (MRSN) Expected to Post Earnings of -$0.38 Per Share

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Brokerages expect Mersana Therapeutics Inc (NASDAQ:MRSN) to report ($0.38) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Mersana Therapeutics’ earnings, with estimates ranging from ($0.42) to ($0.33). Mersana Therapeutics reported earnings per share of ($0.54) during the same quarter last year, which would suggest a positive year over year growth rate of 29.6%. The firm is scheduled to announce its next earnings report on Tuesday, August 13th.

According to Zacks, analysts expect that Mersana Therapeutics will report full year earnings of ($0.67) per share for the current year, with EPS estimates ranging from ($0.93) to ($0.34). For the next year, analysts expect that the firm will post earnings of ($1.50) per share, with EPS estimates ranging from ($2.18) to ($1.17). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Mersana Therapeutics.

Mersana Therapeutics (NASDAQ:MRSN) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.73. The firm had revenue of $41.04 million during the quarter, compared to the consensus estimate of $30.11 million. Mersana Therapeutics had a negative return on equity of 57.49% and a negative net margin of 61.68%.

MRSN has been the subject of several analyst reports. JPMorgan Chase & Co. downgraded Mersana Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Monday, March 11th. Robert W. Baird set a $12.00 price objective on Mersana Therapeutics and gave the stock a “buy” rating in a research note on Friday, March 8th. Finally, Zacks Investment Research raised Mersana Therapeutics from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.60.

In other Mersana Therapeutics news, major shareholder Enterprise Associates 14 New purchased 3,750,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was bought at an average cost of $4.00 per share, with a total value of $15,000,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 39.70% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC purchased a new stake in shares of Mersana Therapeutics during the first quarter valued at approximately $60,000. Rhumbline Advisers grew its holdings in Mersana Therapeutics by 46.2% during the fourth quarter. Rhumbline Advisers now owns 16,102 shares of the company’s stock valued at $66,000 after purchasing an additional 5,090 shares during the period. State of Wisconsin Investment Board grew its holdings in Mersana Therapeutics by 30.8% during the first quarter. State of Wisconsin Investment Board now owns 17,000 shares of the company’s stock valued at $89,000 after purchasing an additional 4,000 shares during the period. Algert Global LLC bought a new position in Mersana Therapeutics during the first quarter valued at $110,000. Finally, Bank of America Corp DE grew its holdings in Mersana Therapeutics by 1,409.6% during the fourth quarter. Bank of America Corp DE now owns 31,807 shares of the company’s stock valued at $129,000 after purchasing an additional 29,700 shares during the period. 39.55% of the stock is owned by institutional investors.

Shares of Mersana Therapeutics stock traded down $0.35 on Friday, hitting $4.67. The company had a trading volume of 195,500 shares, compared to its average volume of 205,906. The company has a market cap of $286.30 million, a PE ratio of -1.67 and a beta of 1.64. Mersana Therapeutics has a 1 year low of $2.85 and a 1 year high of $23.96. The company has a quick ratio of 1.07, a current ratio of 6.24 and a debt-to-equity ratio of 0.02.

About Mersana Therapeutics

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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Earnings History and Estimates for Mersana Therapeutics (NASDAQ:MRSN)

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