Mersana Therapeutics transferred with Buy rating at Citi

Citi kept a Buy rating on Mersana Therapeutics (MRSN) with a $5 price target following a transfer of coverage. The company expects to share initial data from the XMT-1660 Phase 1 by the end of 2024, the analyst tells investors in a research note. The firm sees the readout as a “significant catalyst which may reinvigorate shares.”