Bank of America Cuts Merus (NASDAQ:MRUS) Price Target to $70.00

Merus (NASDAQ:MRUS) had its price target cut by research analysts at Bank of America from $73.00 to $70.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Bank of America‘s target price would indicate a potential upside of 52.11% from the stock’s current price.

MRUS has been the topic of a number of other reports. Guggenheim reissued a “buy” rating on shares of Merus in a research report on Wednesday, February 12th. Needham & Company LLC reduced their price target on shares of Merus from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Wells Fargo & Company assumed coverage on shares of Merus in a report on Friday, February 7th. They issued an “overweight” rating and a $91.00 price objective for the company. Piper Sandler started coverage on Merus in a research report on Thursday, February 13th. They set an “overweight” rating and a $84.00 price objective on the stock. Finally, The Goldman Sachs Group assumed coverage on Merus in a research report on Thursday, November 21st. They issued a “buy” rating and a $73.00 target price for the company. One analyst has rated the stock with a sell rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $85.31.

Merus Price Performance

Merus stock traded down $0.05 during trading hours on Monday, reaching $46.02. The stock had a trading volume of 178,035 shares, compared to its average volume of 628,496. The company has a fifty day simple moving average of $42.36 and a 200-day simple moving average of $46.49. The stock has a market cap of $3.18 billion, a PE ratio of -11.66 and a beta of 1.15. Merus has a 52 week low of $37.77 and a 52 week high of $61.61.

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

Hedge Funds Weigh In On Merus

Several large investors have recently modified their holdings of MRUS. State of Wyoming purchased a new position in Merus in the fourth quarter worth about $48,000. Wells Fargo & Company MN raised its holdings in Merus by 27.3% in the 4th quarter. Wells Fargo & Company MN now owns 1,400 shares of the biotechnology company’s stock worth $59,000 after acquiring an additional 300 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Merus in the 4th quarter valued at approximately $60,000. Avior Wealth Management LLC purchased a new stake in Merus during the 4th quarter valued at $76,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Merus in the 4th quarter worth $84,000. Hedge funds and other institutional investors own 96.14% of the company’s stock.

Merus Company Profile

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.