Cowen Reaffirms “Buy” Rating for Mersana Therapeutics (NASDAQ:MRSN)

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Cowen restated their buy rating on shares of Mersana Therapeutics (NASDAQ:MRSN) in a research note released on Monday morning, AnalystRatings.com reports.

Other research analysts also recently issued reports about the stock. BidaskClub upgraded shares of Mersana Therapeutics from a buy rating to a strong-buy rating in a research report on Friday, December 27th. ValuEngine downgraded shares of Mersana Therapeutics from a buy rating to a hold rating in a research report on Saturday, December 21st. HC Wainwright reaffirmed a buy rating and issued a $7.00 price objective on shares of Mersana Therapeutics in a report on Friday, January 10th. Finally, Zacks Investment Research raised shares of Mersana Therapeutics from a hold rating to a buy rating and set a $6.00 price objective on the stock in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Mersana Therapeutics currently has a consensus rating of Hold and a consensus target price of $8.33.

Mersana Therapeutics stock opened at $6.16 on Monday. The firm’s 50-day moving average is $4.75 and its 200-day moving average is $3.15. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.12 and a current ratio of 5.12. Mersana Therapeutics has a 1 year low of $1.32 and a 1 year high of $7.65.

Mersana Therapeutics (NASDAQ:MRSN) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.02. Mersana Therapeutics had a negative net margin of 79.49% and a negative return on equity of 41.14%. The company had revenue of $0.84 million for the quarter, compared to the consensus estimate of $0.50 million. On average, equities research analysts forecast that Mersana Therapeutics will post -0.59 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in MRSN. Boxer Capital LLC acquired a new stake in shares of Mersana Therapeutics in the 2nd quarter worth about $8,440,000. BlackRock Inc. increased its holdings in shares of Mersana Therapeutics by 166.2% in the 2nd quarter. BlackRock Inc. now owns 2,390,463 shares of the company’s stock worth $9,681,000 after acquiring an additional 1,492,618 shares during the period. Vanguard Group Inc. increased its holdings in shares of Mersana Therapeutics by 26.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,903,502 shares of the company’s stock worth $7,709,000 after acquiring an additional 403,011 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Mersana Therapeutics in the 2nd quarter worth about $676,000. Finally, Millennium Management LLC increased its holdings in shares of Mersana Therapeutics by 136.0% in the 3rd quarter. Millennium Management LLC now owns 42,524 shares of the company’s stock worth $67,000 after acquiring an additional 160,624 shares during the period. 80.37% of the stock is currently owned by institutional investors and hedge funds.

Mersana Therapeutics Company Profile

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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