Mersana Therapeutics Inc (NASDAQ: MRSN) Is Expected To Soar To Higher Prices In The Months To Come.

In the last trading session, 3.81 million Mersana Therapeutics Inc (NASDAQ:MRSN) shares changed hands as the company’s beta touched 1.38. With the company’s per share price at $3.88 changed hands at -$0.35 or -8.27% during last session, the market valuation stood at $467.85M. MRSN’s last price was a discount, traded about -147.94% off its 52-week high of $9.62. The share price had its 52-week low at $0.80, which suggests the last value was 79.38% up since then. When we look at Mersana Therapeutics Inc’s average trading volume, we note the 10-day average is 1.85 million shares, with the 3-month average coming to 2.03.

Mersana Therapeutics Inc (NASDAQ:MRSN) trade information

Instantly MRSN was in red as seen at the end of in last trading. With action 15.48%, the performance over the past five days has been green. The drop to weekly highs of 4.45 subtracted -8.27% to the stock’s daily price. The company’s shares are showing year-to-date upside of 67.24%, with the 5-day performance at 15.48% in the green. However, in the 30-day time frame, Mersana Therapeutics Inc (NASDAQ:MRSN) is 19.38% up. Looking at the short shares, we see there were 6.65 million shares sold at short interest cover period of 3.31 days.

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Mersana Therapeutics Inc (MRSN) estimates and forecasts

Data shows that the Mersana Therapeutics Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 223.33% over the past 6 months, a 30.28% in annual growth rate that is considerably higher than the industry average of 15.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Mersana Therapeutics Inc will rise 52.30%, while the growth in revenue is estimated to hit 61.50% for the next quarter. Year-over-year growth is forecast to reach 32.70% up from the last financial year.

Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of $9.14 million. 4 analysts are of the opinion that Mersana Therapeutics Inc’s revenue for the quarter ending Mar 2024 will be $7.4 million. The company’s revenue for the corresponding quarters a year ago was $14.69 million and $7.8 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -37.80%. The estimates for the next quarter sales put growth at -5.20%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -5.10%. The 2024 estimates are for Mersana Therapeutics Inc earnings to increase by 30.40%.

MRSN Dividends

Mersana Therapeutics Inc is expected to release its next quarterly earnings report between February 26 and March 01.

Mersana Therapeutics Inc (NASDAQ:MRSN)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 1.26% of Mersana Therapeutics Inc shares while 96.09% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 97.32%. There are 96.09% institutions holding the Mersana Therapeutics Inc stock share, with Bain Capital Life Sciences Investors, LLC the top institutional holder. As of Jun 29, 2023, the company held 7.19% of the shares, roughly 8.66 million MRSN shares worth $28.5 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 6.61% or 7.96 million shares worth $26.2 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF. With 3.41 million shares estimated at $11.23 million under it, the former controlled 2.83% of total outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF held about 2.35% of the shares, roughly 2.84 million shares worth around $3.15 million.

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