Merus (NASDAQ:MRUS) Trading 7.5% Higher – Still a Buy?

by · The Markets Daily

Merus (NASDAQ:MRUS – Get Free Report)’s share price rose 7.5% during mid-day trading on Wednesday . The stock traded as high as $42.57 and last traded at $42.57. Approximately 557,280 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 697,193 shares. The stock had previously closed at $39.60.

Analyst Ratings Changes

MRUS has been the subject of a number of recent research reports. Citigroup increased their price objective on shares of Merus from $89.00 to $97.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Needham & Company LLC dropped their price target on shares of Merus from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, February 28th. HC Wainwright restated a “buy” rating and set a $85.00 price target on shares of Merus in a research note on Monday, March 3rd. Wells Fargo & Company assumed coverage on Merus in a research note on Friday, February 7th. They issued an “overweight” rating and a $91.00 price objective on the stock. Finally, Piper Sandler initiated coverage on Merus in a report on Thursday, February 13th. They issued an “overweight” rating and a $84.00 target price for the company. One analyst has rated the stock with a sell rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $85.31.

Read Our Latest Research Report on MRUS

Merus Price Performance

The stock has a 50 day moving average price of $44.09 and a two-hundred day moving average price of $45.86. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -9.65 and a beta of 1.02.

Merus (NASDAQ:MRUS – Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.48. Merus had a negative net margin of 680.61% and a negative return on equity of 38.89%. The firm had revenue of $9.14 million during the quarter, compared to analysts’ expectations of $10.57 million. Sell-side analysts forecast that Merus will post -3.85 EPS for the current fiscal year.

Institutional Trading of Merus

Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System boosted its position in Merus by 7.5% in the 4th quarter. California State Teachers Retirement System now owns 41,149 shares of the biotechnology company’s stock valued at $1,730,000 after buying an additional 2,872 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in shares of Merus during the fourth quarter valued at $1,318,000. GF Fund Management CO. LTD. bought a new position in Merus in the fourth quarter valued at about $60,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Merus by 17.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 98,744 shares of the biotechnology company’s stock worth $4,152,000 after purchasing an additional 14,544 shares during the period. Finally, Woodline Partners LP raised its holdings in Merus by 0.3% during the 4th quarter. Woodline Partners LP now owns 1,188,518 shares of the biotechnology company’s stock worth $49,977,000 after purchasing an additional 3,593 shares during the last quarter. Institutional investors and hedge funds own 96.14% of the company’s stock.

Merus Company Profile

(Get Free Report)

Merus N.V., a clinical-stage immuno-oncology company, engages in the development of antibody therapeutics in the Netherlands. Its bispecific antibody candidate pipeline includes Zenocutuzumab (MCLA-128), which is in a phase 2 clinical trials for the treatment of patients with metastatic breast cancer and castration-resistant prostate cancer, as well as in Phase 1/2 clinical trials for the treatment of solid tumors that harbor Neuregulin 1.

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