Merus (NASDAQ:MRUS) Given New $70.00 Price Target at Bank of America

Merus (NASDAQ:MRUS) had its target price lowered by Bank of America from $73.00 to $70.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

Several other analysts also recently weighed in on MRUS. HC Wainwright reiterated a “buy” rating and issued a $85.00 price target on shares of Merus in a report on Monday, March 3rd. The Goldman Sachs Group initiated coverage on Merus in a report on Thursday, November 21st. They issued a “buy” rating and a $73.00 target price for the company. William Blair restated an “outperform” rating on shares of Merus in a research note on Friday, February 28th. Piper Sandler began coverage on Merus in a report on Thursday, February 13th. They issued an “overweight” rating and a $84.00 price objective for the company. Finally, Needham & Company LLC dropped their target price on shares of Merus from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $85.31.

Merus Stock Up 1.5 %

Shares of Merus stock opened at $46.75 on Monday. The stock’s fifty day moving average is $42.46 and its two-hundred day moving average is $46.45. Merus has a 52 week low of $37.77 and a 52 week high of $61.61. The company has a market capitalization of $3.23 billion, a PE ratio of -11.84 and a beta of 1.15.

Merus (NASDAQ:MRUS) last posted its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $10.57 million. As a group, research analysts anticipate that Merus will post -3.85 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its stake in shares of Merus by 27.3% during the fourth 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. Parkman Healthcare Partners LLC boosted its stake in Merus by 0.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 45,680 shares of the biotechnology company’s stock worth $1,921,000 after purchasing an additional 331 shares in the last quarter. Deutsche Bank AG boosted its stake in Merus by 0.4% in the 4th quarter. Deutsche Bank AG now owns 113,056 shares of the biotechnology company’s stock worth $4,754,000 after purchasing an additional 416 shares in the last quarter. Gordian Capital Singapore Pte Ltd grew its position in Merus by 10.4% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 5,000 shares of the biotechnology company’s stock worth $250,000 after purchasing an additional 470 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Merus by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 52,636 shares of the biotechnology company’s stock valued at $2,213,000 after purchasing an additional 540 shares in the last quarter. 96.14% of the stock is owned by institutional investors and hedge funds.

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.