Equities research analysts forecast that Mersana Therapeutics Inc (NASDAQ:MRSN) will report sales of $3.76 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Mersana Therapeutics’ earnings, with the lowest sales estimate coming in at $3.00 million and the highest estimate coming in at $4.20 million. Mersana Therapeutics posted sales of $3.73 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.8%. The business is expected to report its next earnings report on Friday, August 10th.
On average, analysts expect that Mersana Therapeutics will report full year sales of $14.89 million for the current year, with estimates ranging from $12.06 million to $16.90 million. For the next financial year, analysts expect that the company will report sales of $21.22 million per share, with estimates ranging from $14.42 million to $27.08 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Mersana Therapeutics.
Mersana Therapeutics (NASDAQ:MRSN) last issued its earnings results on Monday, May 14th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.61) by $0.07. Mersana Therapeutics had a negative return on equity of 124.32% and a negative net margin of 263.80%. The firm had revenue of $3.06 million for the quarter, compared to analysts’ expectations of $3.49 million.
A number of equities analysts have issued reports on the company. Leerink Swann restated an “outperform” rating on shares of Mersana Therapeutics in a report on Wednesday, March 28th. HC Wainwright set a $33.00 target price on Mersana Therapeutics and gave the stock a “buy” rating in a report on Wednesday, April 25th. Zacks Investment Research upgraded Mersana Therapeutics from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Wednesday, June 6th. ValuEngine upgraded Mersana Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Cowen restated a “buy” rating on shares of Mersana Therapeutics in a report on Monday, April 16th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $25.33.
Mersana Therapeutics traded up $0.56, reaching $19.21, during midday trading on Friday, according to Marketbeat Ratings. 343,614 shares of the company were exchanged, compared to its average volume of 178,715. Mersana Therapeutics has a one year low of $12.45 and a one year high of $23.96. The stock has a market cap of $427.12 million and a P/E ratio of -5.97.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. raised its position in shares of Mersana Therapeutics by 110.1% during the first quarter. American International Group Inc. now owns 7,151 shares of the company’s stock worth $113,000 after purchasing an additional 3,747 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Mersana Therapeutics by 1,132.7% during the fourth quarter. TIAA CREF Investment Management LLC now owns 8,037 shares of the company’s stock worth $132,000 after purchasing an additional 7,385 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Mersana Therapeutics by 505.6% during the first quarter. The Manufacturers Life Insurance Company now owns 9,496 shares of the company’s stock worth $149,000 after purchasing an additional 7,928 shares during the period. Element Capital Management LLC acquired a new stake in shares of Mersana Therapeutics during the first quarter worth about $169,000. Finally, Candriam Luxembourg S.C.A. acquired a new stake in shares of Mersana Therapeutics during the fourth quarter worth about $197,000. 81.68% of the stock is currently owned by institutional investors.
About Mersana Therapeutics
Mersana Therapeutics, Inc, a clinical stage biopharmaceutical company focusing on the development of oncology therapeutics in the United States and Canada. The company develops Dolaflexin, an antibody drug conjugate (ADC) platform designed to enhance the potency and efficacy of ADCs while simultaneously enhancing the safety and tolerability.
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