Mersana Therapeutics initiated with an Outperform at William Blair

William Blair analyst Andy Hsieh last night initiated coverage of Mersana Therapeutics (MRSN) with an Outperform rating. The firm believes Mersana offers investors a risk/reward skewed to the upside through exposure to the “rapidly expanding” field of antibody-drug conjugates. Mersana’s target and secondary indications offer a significant total addressable market opportunity, the analyst tells investors in a research note. Blair says several near- to midterm datasets could provide further validation for Mersana’s approach.