Merus (NASDAQ:MRUS) Coverage Initiated at Piper Sandler

Equities researchers at Piper Sandler assumed coverage on shares of Merus (NASDAQ:MRUS) in a report issued on Thursday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $84.00 price target on the biotechnology company’s stock. Piper Sandler’s price objective would indicate a potential upside of 108.96% from the stock’s previous close.

Other research analysts have also issued reports about the company. Citigroup raised their price objective on Merus from $89.00 to $97.00 and gave the company a “buy” rating in a research report on Monday, December 9th. HC Wainwright restated a “buy” rating and set a $85.00 target price on shares of Merus in a research note on Monday, December 2nd. Wells Fargo & Company started coverage on Merus in a research note on Friday, February 7th. They set an “overweight” rating and a $91.00 target price for the company. The Goldman Sachs Group started coverage on Merus in a research note on Thursday, November 21st. They set a “buy” rating and a $73.00 target price for the company. Finally, Guggenheim restated a “buy” rating on shares of Merus in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $85.92.

Merus Price Performance

NASDAQ:MRUS opened at $40.20 on Thursday. The business’s 50-day moving average is $41.55 and its two-hundred day moving average is $47.22. Merus has a 12 month low of $37.77 and a 12 month high of $61.61. The firm has a market capitalization of $2.75 billion, a PE ratio of -10.18 and a beta of 1.11.

Hedge Funds Weigh In On Merus

A number of hedge funds have recently bought and sold shares of MRUS. Wells Fargo & Company MN boosted its stake in Merus by 27.3% in the fourth quarter. Wells Fargo & Company MN now owns 1,400 shares of the biotechnology company’s stock valued at $59,000 after acquiring an additional 300 shares during the period. nVerses Capital LLC boosted its stake in Merus by 750.0% in the third quarter. nVerses Capital LLC now owns 1,700 shares of the biotechnology company’s stock valued at $85,000 after acquiring an additional 1,500 shares during the period. Avior Wealth Management LLC acquired a new position in Merus in the fourth quarter valued at approximately $76,000. US Bancorp DE bought a new stake in shares of Merus during the third quarter valued at approximately $103,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Merus by 24.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,467 shares of the biotechnology company’s stock valued at $118,000 after buying an additional 489 shares during the last quarter. 96.14% of the stock is currently owned by institutional investors and hedge funds.

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.