Merus (NASDAQ:MRUS) PT Raised to $93.00 at Citigroup

Merus (NASDAQ:MRUS) had its price objective raised by equities researchers at Citigroup from $70.00 to $93.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Citigroup’s price target suggests a potential upside of 54.49% from the stock’s previous close.

MRUS has been the subject of several other research reports. William Blair restated an “outperform” rating on shares of Merus in a research report on Monday, April 22nd. Guggenheim raised their price objective on shares of Merus from $57.00 to $93.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. BMO Capital Markets raised their price objective on shares of Merus from $84.00 to $91.00 and gave the company an “outperform” rating in a research report on Tuesday, June 4th. Truist Financial lifted their price target on shares of Merus from $69.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Finally, Canaccord Genuity Group lifted their price target on shares of Merus from $54.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.30.

Merus Trading Up 5.6 %

Merus stock opened at $60.20 on Wednesday. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of -21.73 and a beta of 1.10. The company’s 50-day moving average price is $50.10 and its two-hundred day moving average price is $42.52. Merus has a 52 week low of $19.81 and a 52 week high of $61.61.

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

Insiders Place Their Bets

In other news, VP Harry Shuman sold 1,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $53.22, for a total value of $53,220.00. Following the sale, the vice president now owns 7,002 shares in the company, valued at approximately $372,646.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 14,300 shares of company stock worth $792,792 over the last 90 days. Corporate insiders own 4.57% of the company’s stock.

Institutional Investors Weigh In On Merus

Several institutional investors and hedge funds have recently made changes to their positions in MRUS. Quadrant Capital Group LLC raised its holdings in shares of Merus by 37.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,253 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 343 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Merus by 64.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,120 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 828 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Merus in the 1st quarter valued at approximately $72,000. SG Americas Securities LLC acquired a new position in shares of Merus in the 1st quarter valued at approximately $108,000. Finally, Exchange Traded Concepts LLC boosted its position in Merus by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,753 shares of the biotechnology company’s stock worth $158,000 after acquiring an additional 1,459 shares during the last quarter. Institutional investors and hedge funds 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.