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.
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.
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