Merus (NASDAQ:MRUS) PT Raised to $111.00

Merus (NASDAQ:MRUS) had its price objective increased by Guggenheim from $93.00 to $111.00 in a research note published on Tuesday, Benzinga reports. Guggenheim currently has a buy rating on the biotechnology company’s stock.

MRUS has been the subject of several other reports. Bank of America reaffirmed a buy rating and issued a $76.00 target price on shares of Merus in a research report on Tuesday, June 25th. Citigroup raised their target price on Merus from $70.00 to $93.00 and gave the stock a buy rating in a research report on Wednesday, June 26th. Lifesci Capital raised Merus to a strong-buy rating in a research report on Monday, July 29th. Stifel Nicolaus raised their target price on Merus from $90.00 to $99.00 and gave the stock a buy rating in a research report on Monday, June 17th. Finally, Canaccord Genuity Group reaffirmed a buy rating and issued a $67.00 target price on shares of Merus in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $82.00.

Merus Trading Down 1.4 %

Shares of Merus stock opened at $49.86 on Tuesday. The company’s fifty day simple moving average is $50.90 and its 200-day simple moving average is $50.09. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -18.00 and a beta of 1.12. Merus has a 1 year low of $19.81 and a 1 year high of $61.61.

Merus (NASDAQ:MRUS) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.05). The company had revenue of $7.33 million during the quarter, compared to analyst estimates of $9.64 million. Merus had a negative return on equity of 36.33% and a negative net margin of 476.41%. As a group, research analysts forecast that Merus will post -3.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MRUS. Price T Rowe Associates Inc. MD bought a new position in shares of Merus during the first quarter valued at $53,377,000. Marshall Wace LLP raised its holdings in shares of Merus by 813.3% in the second quarter. Marshall Wace LLP now owns 957,952 shares of the biotechnology company’s stock valued at $56,682,000 after buying an additional 853,060 shares during the last quarter. Logos Global Management LP bought a new position in shares of Merus in the second quarter valued at about $50,294,000. Novo Holdings A S bought a new position in shares of Merus in the second quarter valued at about $39,940,000. Finally, Avoro Capital Advisors LLC raised its holdings in shares of Merus by 52.4% in the second quarter. Avoro Capital Advisors LLC now owns 1,355,000 shares of the biotechnology company’s stock valued at $80,175,000 after buying an additional 466,112 shares during the last quarter. 96.14% of the stock is owned by institutional investors.

About Merus

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.