Merus (NASDAQ:MRUS) Given New $93.00 Price Target at Citigroup

Merus (NASDAQ:MRUS) had its price target increased by Citigroup from $70.00 to $93.00 in a research report report published on Wednesday morning, Benzinga reports. Citigroup currently has a buy rating on the biotechnology company’s stock.

A number of other research firms also recently commented on MRUS. HC Wainwright reiterated a buy rating and issued a $65.00 price target on shares of Merus in a research note on Friday, May 24th. Truist Financial upped their price target on Merus from $69.00 to $88.00 and gave the company a buy rating in a research report on Tuesday, June 4th. BMO Capital Markets raised their price objective on Merus from $84.00 to $91.00 and gave the stock an outperform rating in a research note on Tuesday, June 4th. StockNews.com lowered shares of Merus from a hold rating to a sell rating in a research note on Wednesday, May 22nd. Finally, Guggenheim raised their price target on shares of Merus from $57.00 to $93.00 and gave the stock a buy rating in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $78.30.

Merus Stock Performance

Shares of MRUS opened at $56.99 on Wednesday. Merus has a one year low of $19.81 and a one year high of $61.61. The stock has a 50-day moving average price of $49.71 and a 200 day moving average price of $42.39. The company has a market capitalization of $3.34 billion, a P/E ratio of -20.57 and a beta of 1.10.

Merus (NASDAQ:MRUS) last posted its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.24. The firm had revenue of $7.89 million for the quarter, compared to the consensus estimate of $8.94 million. Merus had a negative net margin of 390.36% and a negative return on equity of 44.13%. As a group, equities research analysts forecast that Merus will post -3.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Merus

In other news, VP Harry Shuman sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $53.22, for a total transaction of $53,220.00. Following the completion of the transaction, the vice president now directly owns 7,002 shares in the company, valued at $372,646.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 14,300 shares of company stock worth $792,792. 4.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On Merus

A number of hedge funds and other institutional investors have recently modified their holdings of MRUS. Price T Rowe Associates Inc. MD acquired a new position in Merus during the 1st quarter valued at about $53,377,000. RTW Investments LP increased its stake in shares of Merus by 90.0% during the third quarter. RTW Investments LP now owns 1,996,764 shares of the biotechnology company’s stock valued at $47,084,000 after acquiring an additional 945,871 shares during the period. Deerfield Management Company L.P. Series C raised its holdings in Merus by 27.9% during the third quarter. Deerfield Management Company L.P. Series C now owns 3,876,938 shares of the biotechnology company’s stock worth $91,418,000 after purchasing an additional 845,000 shares in the last quarter. Federated Hermes Inc. lifted its position in Merus by 26.0% in the fourth quarter. Federated Hermes Inc. now owns 3,637,309 shares of the biotechnology company’s stock worth $100,026,000 after purchasing an additional 751,609 shares during the period. Finally, Artal Group S.A. acquired a new stake in Merus in the first quarter worth approximately $20,492,000. 96.14% of the stock is currently 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.