Mersana Therapeutics price target lowered to $10 from $16 at BTIG

BTIG analyst Kaveri Pohlman lowered the firm’s price target on Mersana Therapeutics to $10 from $16 and keeps a Buy rating on the shares. The firm said the FDA’s decision to pause enrollment of a “promising and novel” drug probably suggests some corroborative evidence. While the firm does not have any details, it is remaining positive under the expectation that the allowable side effects for these patients are higher than normal, and what the FDA is looking for is an ability to stratify patients at risk.