Mersana Therapeutics (NASDAQ:MRSN) Downgraded by JPMorgan Chase to “Neutral”

JPMorgan Chase downgraded shares of Mersana Therapeutics (NASDAQ:MRSN) from an overweight rating to a neutral rating in a research report sent to investors on Monday, March 19th, MarketBeat Ratings reports. JPMorgan Chase currently has $23.00 target price on the stock.

Several other equities research analysts have also issued reports on MRSN. Zacks Investment Research lowered Mersana Therapeutics from a hold rating to a sell rating in a research report on Wednesday, January 3rd. ValuEngine raised Mersana Therapeutics from a strong sell rating to a sell rating in a research report on Friday, February 2nd. Finally, HC Wainwright initiated coverage on Mersana Therapeutics in a report on Thursday, February 15th. They issued a buy rating for the company. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Mersana Therapeutics presently has a consensus rating of Hold and an average price target of $24.80.

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Shares of Mersana Therapeutics stock traded up $0.54 during trading hours on Monday, hitting $16.93. 111,163 shares of the company’s stock traded hands, compared to its average volume of 127,957. Mersana Therapeutics has a 12-month low of $12.45 and a 12-month high of $21.01.

Mersana Therapeutics (NASDAQ:MRSN) last announced its earnings results on Wednesday, March 28th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.13). The firm had revenue of $3.26 million during the quarter, compared to analysts’ expectations of $4.22 million. equities analysts expect that Mersana Therapeutics will post -2.53 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. ArrowMark Colorado Holdings LLC increased its holdings in Mersana Therapeutics by 88.4% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 899,773 shares of the company’s stock worth $14,783,000 after acquiring an additional 422,062 shares during the last quarter. BlackRock Inc. increased its holdings in Mersana Therapeutics by 118.9% in the 4th quarter. BlackRock Inc. now owns 577,299 shares of the company’s stock worth $9,485,000 after acquiring an additional 313,516 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in Mersana Therapeutics in the 3rd quarter worth about $1,419,000. Vanguard Group Inc. purchased a new stake in Mersana Therapeutics in the 2nd quarter worth about $1,048,000. Finally, Geode Capital Management LLC increased its holdings in Mersana Therapeutics by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 63,173 shares of the company’s stock worth $1,037,000 after acquiring an additional 5,821 shares during the last quarter. 75.43% of the stock is owned by 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.

Analyst Recommendations for Mersana Therapeutics (NASDAQ:MRSN)

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