Home Most Popular The Rise of Mersana Therapeutics: A Glimpse into Guggenheim’s Upgrade

The Rise of Mersana Therapeutics: A Glimpse into Guggenheim’s Upgrade

The Rise of Mersana Therapeutics: A Glimpse into Guggenheim’s Upgrade

Guggenheim’s Positive Outlook Sparks Growth

Fintel recently divulged that on February 29, 2024, Guggenheim made a pivotal shift in their stance on Mersana Therapeutics (NasdaqGS:MRSN), upgrading the company’s status from Neutral to Buy.

Analyst Price Forecast Reveals Potential Downside

As of February 25, 2024, the average one-year price target for Mersana Therapeutics is 3.06, indicating a range from 1.01 to $5.25. This assessment forecasts a notable 43.70% decrease from the last reported closing price of 5.44.

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The estimated annual revenue for Mersana Therapeutics is 71MM, showcasing a substantial 92.06% increase. The predicted annual non-GAAP EPS stands at -1.94.

Understanding the Fund Sentiment

Currently, 238 funds or institutions hold positions in Mersana Therapeutics, denoting a decrease of 60 owners or 20.13% in the past quarter. The average portfolio weight dedicated to MRSN across all funds rests at 0.08%, exhibiting an 88.78% increase. Institutional ownership of MRSN has seen a 0.93% decline over the last three months, amounting to 117,865K shares. The put/call ratio for MRSN currently stands at 1.74, implying a bearish outlook.

Insight into Other Shareholders’ Actions

EcoR1 Capital holds 19,365K shares, accounting for 16.06% ownership with no alterations in the last quarter. VR Adviser retains 11,328K shares, reflecting 9.39% ownership, also with no recent changes.

Balyasny Asset Management currently owns 9,698K shares, constituting 8.04% ownership. Notably, the firm reported a 48.02% increase in ownership, along with a 223.45% surge in portfolio allocation towards MRSN over the previous quarter.

Bain Capital Life Sciences Investors hold 8,664K shares, possessing 7.18% ownership, with no adjustments in the last quarter. Silverarc Capital Management owns 6,420K shares, representing 5.32% ownership, with a noteworthy 22.12% increase from the earlier reported figure of 5,000K shares. The firm also boosted its portfolio allocation in MRSN by 130.27% in the past quarter.

Delving into Mersana Therapeutics
(Company Description)

Mersana Therapeutics is a dynamic clinical-stage biopharmaceutical company leveraging differentiated ADC platforms to expedite the development of innovative ADCs. Their primary product candidate, upifitamab rilsodotin (UpRi), a Dolaflexin ADC targeting NaPi2b, is currently in the expansion phase of a Phase 1 proof-of-concept clinical study involving patients with ovarian cancer and NSCLC adenocarcinoma. XMT-1592, the company’s secondary ADC product candidate, is directed towards NaPi2b-expressing tumors and is undergoing dose escalation in the Phase 1 proof-of-concept clinical study. Mersana’s early-stage programs encompass XMT-1660, a Dolasynthen ADC focused on targeting B7-H4, along with XMT-2056, an STING-agonist ADC developed through the Immunosynthen platform. Additionally, numerous partners are utilizing Mersana’s Dolaflexin platform to progress their ADC pipelines.

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This article was originally published on Fintel.

The expressed views and opinions herein belong to the author and may not necessarily align with those of Nasdaq, Inc.