H.C. Wainwright Keeps a Buy Rating on Mersana Therapeutics Inc (MRSN)


In a report released today, Debjit Chattopadhyay from H.C. Wainwright maintained a Buy rating on Mersana Therapeutics Inc (NASDAQ: MRSN), with a price target of $23. The company’s shares opened today at $15.50.

According to TipRanks.com, Chattopadhyay is a 3-star analyst with an average return of 3.9% and a 48.8% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Voyager Therapeutics Inc, and Jounce Therapeutics Inc.

Currently, the analyst consensus on Mersana Therapeutics Inc is a Strong Buy with an average price target of $21.50.

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Based on Mersana Therapeutics Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $12.35 million. In comparison, last year the company had a GAAP net loss of $8.95 million.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MRSN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Mersana Therapeutics, Inc. engages in the development and manufacture of antibody drug conjugates to improve patient outcomes in multiple oncology indications. Its lead product candidates are XMT-1522, which focuses on breast cancer and non-small cell lung cancer (NSCLC); and XMT-1536, which targets ovarian cancer and NSCLC. The company was founded by Mikhail Papisov in 2001 and is headquartered in Cambridge, MA.

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