Guggenheim Reiterates Buy Rating for Merus (NASDAQ:MRUS)

Merus (NASDAQ:MRUS)‘s stock had its “buy” rating reiterated by stock analysts at Guggenheim in a report issued on Tuesday,Benzinga reports. They presently have a $109.00 target price on the biotechnology company’s stock. Guggenheim’s price objective indicates a potential upside of 131.91% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Piper Sandler initiated coverage on shares of Merus in a research report on Thursday, February 13th. They set an “overweight” rating and a $84.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $85.00 target price on shares of Merus in a research report on Monday, March 3rd. Needham & Company LLC lowered their price target 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. Bank of America lowered their price target on shares of Merus from $73.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Finally, Wells Fargo & Company began coverage on shares of Merus in a report on Friday, February 7th. They issued an “overweight” rating and a $91.00 price target on the stock. One analyst has rated the stock with a sell rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $85.31.

Merus Price Performance

MRUS stock opened at $47.00 on Tuesday. The company has a market capitalization of $3.25 billion, a PE ratio of -11.90 and a beta of 1.15. Merus has a 12 month low of $37.77 and a 12 month high of $61.61. The firm’s 50-day moving average is $43.15 and its 200 day moving average is $46.26.

Merus (NASDAQ:MRUS) last posted its earnings results on Thursday, February 27th. The biotechnology company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.48. The business had revenue of $9.14 million for the quarter, compared to the consensus estimate of $10.57 million. Merus had a negative net margin of 680.61% and a negative return on equity of 38.89%. Sell-side analysts forecast that Merus will post -3.85 EPS for the current fiscal year.

Institutional Trading of Merus

Institutional investors and hedge funds have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Merus by 17.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,200 shares of the biotechnology company’s stock valued at $4,207,000 after acquiring an additional 12,212 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in Merus during the 3rd quarter valued at approximately $1,870,000. HighTower Advisors LLC acquired a new stake in Merus during the 3rd quarter valued at approximately $358,000. Wellington Management Group LLP lifted its stake in Merus by 73.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,887,514 shares of the biotechnology company’s stock valued at $144,260,000 after acquiring an additional 1,224,573 shares during the period. Finally, KBC Group NV lifted its stake in Merus by 4,583.6% during the 4th quarter. KBC Group NV now owns 57,234 shares of the biotechnology company’s stock valued at $2,407,000 after acquiring an additional 56,012 shares during the period. 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.