Mersana Therapeutics Inc [NASDAQ: MRSN] stock went on a downward path that fall over -12.80% on Thursday, amounting to a one-week price decrease of less than -14.44%. The company report on February 28, 2024 at 7:00 AM that Mersana Therapeutics Provides Business Update and Announces Fourth Quarter and Full Year 2023 Financial Results.
Enrollment in dose escalation and backfill cohorts continuing in Phase 1 clinical trial of XMT-1660; expect to initiate tumor-specific expansion cohorts in the second quarter of 2024 and announce initial clinical data in mid-2024.
Phase 1 clinical trial of XMT-2056 restarting; plan to advance dose escalation in 2024.
Over the last 12 months, MRSN stock rose by 7.40%. The one-year Mersana Therapeutics Inc stock forecast points to a potential upside of 26.65. The average equity rating for MRSN stock is currently 1.75, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $607.11 million, with 120.71 million shares outstanding and 91.80 million shares in the current float. Compared to the average trading volume of 2.13M shares, MRSN stock reached a trading volume of 2915297 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Mersana Therapeutics Inc [MRSN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MRSN shares is $6.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MRSN stock is a recommendation set at 1.75. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wedbush have made an estimate for Mersana Therapeutics Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 29, 2024. The new note on the price target was released on February 29, 2024, representing the official price target for Mersana Therapeutics Inc stock. Previously, the target price had yet another raise to $6, while BTIG Research analysts kept a Buy rating on MRSN stock. On December 04, 2023, analysts increased their price target for MRSN shares from 1 to 5.
The Average True Range (ATR) for Mersana Therapeutics Inc is set at 0.49, with the Price to Sales ratio for MRSN stock in the period of the last 12 months amounting to 16.48. The Price to Book ratio for the last quarter was 16.37, with the Price to Cash per share for the same quarter was set at 1.72.
MRSN Stock Performance Analysis:
Mersana Therapeutics Inc [MRSN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.44. With this latest performance, MRSN shares gained by 30.68% in over the last four-week period, additionally plugging by 250.00% over the last 6 months – not to mention a rise of 7.40% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MRSN stock in for the last two-week period is set at 54.70, with the RSI for the last a single of trading hit 46.02, and the three-weeks RSI is set at 58.79 for Mersana Therapeutics Inc [MRSN]. The present Moving Average for the last 50 days of trading for this stock 3.87, while it was recorded at 5.57 for the last single week of trading, and 2.77 for the last 200 days.
Insight into Mersana Therapeutics Inc Fundamentals:
Mersana Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.36 and a Current Ratio set at 3.36.
MRSN Stock EPS
With the latest financial reports released by the company, Mersana Therapeutics Inc posted -0.52/share EPS, while the average EPS was predicted by analysts to be reported at -0.44/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -18.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MRSN.
Mersana Therapeutics Inc [MRSN] Institutonal Ownership Details
The top three institutional holders of MRSN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MRSN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MRSN stock with ownership which is approximately 5.8325%.
