Leerink Partners analyst Jonathan Chang maintained a Buy rating on Mersana Therapeutics (MRSN – Research Report) on May 16 and set a price target of $2.00.
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Jonathan Chang has given his Buy rating due to a combination of factors that highlight the potential of Mersana Therapeutics’ lead program, Emi-Le. The updated data from the dose escalation study presented at the ESMO Breast Cancer Congress showed promising efficacy signals, particularly in patients with B7-H4-high triple negative breast cancer, which compared favorably to existing chemotherapy treatments.
Furthermore, the safety profile of Emi-Le remains consistent and differentiated within its class, which is crucial as the competitive landscape evolves. The company’s management also anticipates an expansion in the target patient population, enhancing the potential market for Emi-Le. These positive developments, alongside the strategic positioning of Emi-Le in the competitive landscape, underpin Chang’s optimistic outlook for Mersana Therapeutics.
In another report released on May 16, Truist Financial also maintained a Buy rating on the stock with a $10.00 price target.