H.C. Wainwright Keeps Their Buy Rating on Mersana Therapeutics Inc

By Austin Angelo

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 $33. The company’s shares closed yesterday at $16.81.

According to TipRanks.com, Chattopadhyay is a 3-star analyst with an average return of 2.0% and a 47.9% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Audentes Therapeutics, and Sarepta Therapeutics.

Currently, the analyst consensus on Mersana Therapeutics Inc is Moderate Buy and the average price target is $26, representing a 54.7% upside.

In a report released yesterday, Cowen & Co. also maintained a Buy rating on the stock.

Based on Mersana Therapeutics Inc’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $3.26 million and GAAP net loss of $13.97 million. In comparison, last year the company earned revenue of $4.29 million and had a GAAP net loss of $8.06 million.

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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.