Mersana Therapeutics Inc (NASDAQ: MRSN) Stock: Can It Surge Further?

In the last trading session, 1.1 million shares of the Mersana Therapeutics Inc (NASDAQ:MRSN) were traded, and its beta was 1.51. Most recently the company’s share price was $4.22, and it changed around -$0.2 or -4.52% from the last close, which brings the market valuation of the company to $511.89M. MRSN currently trades at a discount to its 52-week high of $9.62, offering almost -127.96% off that amount. The share price’s 52-week low was $0.80, which indicates that the current value has risen by an impressive 81.04% since then. We note from Mersana Therapeutics Inc’s average daily trading volume that its 10-day average is 1.89 million shares, with the 3-month average coming to 2.36 million.

Mersana Therapeutics Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.50. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 0 recommended MRSN as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Mersana Therapeutics Inc is expected to report earnings per share of -$0.18 for the current quarter.

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Mersana Therapeutics Inc (NASDAQ:MRSN) trade information

Instantly MRSN has showed a red trend with a performance of -4.52% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 81.90% year-to-date, but still down -1.17% over the last five days. On the other hand, Mersana Therapeutics Inc (NASDAQ:MRSN) is -28.96% down in the 30-day period. We can see from the shorts that 8.73 million shares have been sold at a short interest cover period of 3.03 day(s).

Mersana Therapeutics Inc (MRSN) estimates and forecasts

Mersana Therapeutics Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 232.28 percent over the past six months and at a 59.46% annual growth rate that is well above the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 65.40% in revenue this quarter, and will report an increase of 61.70% in the next quarter. The year-over-year growth rate is expected to be 2.30%, up from the previous year.

Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $7.93 million in revenue for the current quarter. 7 analysts expect Mersana Therapeutics Inc to make $8.17 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $7.8 million and $10.65 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 1.60%. Forecasts for the next quarter put sales growth at -23.30%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 11.93%.

MRSN Dividends

Mersana Therapeutics Inc’s next quarterly earnings report is expected to be released around May 07 and May 13.

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

Upon looking at major shareholders, it appears that insiders hold 1.33% of Mersana Therapeutics Inc shares, and 95.90% of them are in the hands of institutional investors. The stock currently has a share float of 97.19%. Mersana Therapeutics Inc stock is held by 150 institutions, with Bain Capital Life Sciences Investors, LLC being the largest institutional investor. By Jun 29, 2023, it held 7.19% of the shares, which is about 8.66 million shares worth $28.5 million.

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

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