Merus (NASDAQ:MRUS) Price Target Raised to $111.00 at Guggenheim

Merus (NASDAQ:MRUS) had its price target hoisted by equities research analysts at Guggenheim from $93.00 to $111.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Guggenheim’s target price would indicate a potential upside of 119.89% from the stock’s previous close.

Several other research analysts have also commented on MRUS. Citigroup lifted their price target on Merus from $70.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Lifesci Capital raised Merus to a “strong-buy” rating in a research report on Monday, July 29th. BMO Capital Markets boosted their target price on Merus from $84.00 to $91.00 and gave the company an “outperform” rating in a report on Tuesday, June 4th. Truist Financial upped their price target on Merus from $69.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $67.00 price target on shares of Merus in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $82.00.

Merus Stock Performance

Shares of MRUS traded up $0.52 during midday trading on Tuesday, hitting $50.48. The company had a trading volume of 273,025 shares, compared to its average volume of 723,297. The company’s 50-day simple moving average is $51.18 and its 200-day simple moving average is $50.04. The firm has a market capitalization of $2.96 billion, a P/E ratio of -18.38 and a beta of 1.12. Merus has a 1 year low of $19.81 and a 1 year high of $61.61.

Merus (NASDAQ:MRUS) last posted its earnings results on Thursday, August 1st. The biotechnology company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.05). The business had revenue of $7.33 million for the quarter, compared to analysts’ expectations of $9.64 million. Merus had a negative return on equity of 36.33% and a negative net margin of 476.41%. Equities analysts predict that Merus will post -3.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Merus

A number of hedge funds have recently bought and sold shares of the business. Gordian Capital Singapore Pte Ltd acquired a new stake in Merus during the 2nd quarter valued at approximately $268,000. Novo Holdings A S acquired a new position in shares of Merus in the 2nd quarter worth approximately $39,940,000. Perceptive Advisors LLC acquired a new position in shares of Merus in the 2nd quarter worth approximately $17,751,000. Algert Global LLC grew its position in shares of Merus by 36.4% in the 2nd quarter. Algert Global LLC now owns 133,323 shares of the biotechnology company’s stock worth $7,889,000 after acquiring an additional 35,549 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its position in shares of Merus by 26.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,550,009 shares of the biotechnology company’s stock worth $91,714,000 after acquiring an additional 323,518 shares in 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.