Mersana Therapeutics (NASDAQ:MRSN) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Mersana Therapeutics (NASDAQ:MRSN) from a buy rating to a hold rating in a research report sent to investors on Saturday morning, Zacks.com reports.

According to Zacks, “Mersana Therapeutics, Inc. is a biotechnology company. It focused on discovering and developing a pipeline of antibody drug conjugates. The company’s product candidates include XMT-1522 and XMT-1536 which are in clinical stage. Mersana Therapeutics, Inc. is based in CAMBRIDGE, United States. “

Several other brokerages have also issued reports on MRSN. ValuEngine upgraded Mersana Therapeutics from a hold rating to a buy rating in a research note on Thursday, August 1st. Cowen restated a buy rating on shares of Mersana Therapeutics in a research note on Sunday, June 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Mersana Therapeutics currently has an average rating of Buy and a consensus price target of $11.63.

Shares of MRSN opened at $2.82 on Friday. The company has a market capitalization of $148.69 million, a price-to-earnings ratio of -1.01 and a beta of 1.37. The company has a fifty day moving average price of $3.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.24 and a current ratio of 6.24. Mersana Therapeutics has a 1 year low of $2.79 and a 1 year high of $15.93.

Mersana Therapeutics (NASDAQ:MRSN) last issued its earnings results on Thursday, August 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.02. The firm had revenue of $0.20 million for the quarter, compared to analyst estimates of $1.08 million. Mersana Therapeutics had a negative return on equity of 63.92% and a negative net margin of 77.78%. On average, equities analysts forecast that Mersana Therapeutics will post -0.72 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in shares of Mersana Therapeutics by 1,409.6% during the 4th quarter. Bank of America Corp DE now owns 31,807 shares of the company’s stock valued at $129,000 after purchasing an additional 29,700 shares during the period. Spark Investment Management LLC raised its stake in shares of Mersana Therapeutics by 7.3% during the 1st quarter. Spark Investment Management LLC now owns 52,800 shares of the company’s stock valued at $277,000 after purchasing an additional 3,600 shares during the period. Geode Capital Management LLC raised its stake in shares of Mersana Therapeutics by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 128,232 shares of the company’s stock valued at $523,000 after purchasing an additional 5,798 shares during the period. Hikari Power Ltd raised its stake in shares of Mersana Therapeutics by 5.7% during the 1st quarter. Hikari Power Ltd now owns 90,246 shares of the company’s stock valued at $475,000 after purchasing an additional 4,850 shares during the period. Finally, NEA Management Company LLC raised its stake in shares of Mersana Therapeutics by 46.0% during the 1st quarter. NEA Management Company LLC now owns 11,894,267 shares of the company’s stock valued at $62,564,000 after purchasing an additional 3,750,000 shares during the period. Institutional investors own 77.40% of the company’s stock.

About Mersana Therapeutics

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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