Zacks: Brokerages Set $23.67 Target Price for Mersana Therapeutics, Inc. (MRSN)

Mersana Therapeutics, Inc. (NASDAQ:MRSN) has been given a consensus broker rating score of 1.00 (Strong Buy) from the four analysts that provide coverage for the company, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy recommendation.

Brokerages have set a one year consensus price objective of $23.67 for the company, according to Zacks. Zacks has also given Mersana Therapeutics an industry rank of 110 out of 265 based on the ratings given to related companies.

Several institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System bought a new position in shares of Mersana Therapeutics in the third quarter valued at $142,000. Citadel Advisors LLC bought a new position in shares of Mersana Therapeutics in the second quarter valued at $179,000. Bank of New York Mellon Corp bought a new position in shares of Mersana Therapeutics in the third quarter valued at $231,000. Goldman Sachs Group Inc. bought a new position in shares of Mersana Therapeutics in the second quarter valued at $699,000. Finally, Laurion Capital Management LP bought a new position in shares of Mersana Therapeutics in the second quarter valued at $699,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Mersana Therapeutics (NASDAQ MRSN) opened at $18.95 on Friday. Mersana Therapeutics has a 12 month low of $12.71 and a 12 month high of $21.01.

Mersana Therapeutics (NASDAQ:MRSN) last released its quarterly earnings data on Thursday, November 9th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.13. The business had revenue of $6.27 million during the quarter, compared to the consensus estimate of $3.93 million. sell-side analysts forecast that Mersana Therapeutics will post -2.9 earnings per share for the current fiscal year.

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Mersana Therapeutics Company Profile

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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