BTIG analyst Thomas Shrader lowered the firm’s price target on Mersana Therapeutics to $16 from $26 but keeps a Buy rating on the shares. 2022 was a year when the rest of the world seemed to realize that the safety of many ADCs is "not wonderful", and Mersana is uniquely positioned to capitalize on this realization due to the DolaLock technologies, the analyst tells investors in a research note. The firm adds however that its price target cut is due to the company’s phase 3 UPLIFT trial being likely to be less of a stock catalyst than the subsequent accelerated approval of UpRi.
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