BTIG maintains a bullish view on MRSN with a $6 price target, citing favorable Phase I data for Emi-Le, which showed a 23% response rate and strong safety profile. The recent selloff, with the stock closing at $0.6089 on January 31, is considered excessive by BTIG, as the results exceeded their base case expectations. This suggests significant upside potential if the market re-evaluates the stock based on its clinical progress.