Positive Outlook for Mersana Therapeutics: Buy Rating Backed by Promising Pipeline and Strong Financial Position

Analyst Justin Zelin from BTIG reiterated a Buy rating on Mersana Therapeutics (MRSN – Research Report) and keeping the price target at $6.00.

Justin Zelin has given his Buy rating due to a combination of factors including the promising developments in Mersana Therapeutics’ pipeline and the shifting competitive landscape. The company is advancing its dose expansion for the B7-H4 Dolasynthen ADC Emi-Le, with expectations of updated data this year. This progress is particularly significant given the recent discontinuation of a competing B7-H4 program by Pfizer, which enhances Mersana’s position in the market.
Furthermore, the initial pharmacodynamic data for Mersana’s XMT-2056, targeting HER2, is anticipated, which could provide additional insights into its efficacy. Financially, Mersana reported better-than-expected earnings and has a solid cash position projected to support operations into 2026. These factors collectively contribute to the positive outlook and the Buy rating for Mersana Therapeutics.

In another report released yesterday, LifeSci Capital also maintained a Buy rating on the stock with a $3.00 price target.

MRSN’s price has also changed dramatically for the past six months – from $1.450 to $0.480, which is a -66.90% drop .