Merus (NASDAQ:MRUS – Get Free Report)’s share price fell 2.2% during mid-day trading on Wednesday after Bank of America lowered their price target on the stock from $80.00 to $76.00. Bank of America currently has a buy rating on the stock. Merus traded as low as $48.93 and last traded at $49.23. 36,045 shares traded hands during trading, a decline of 95% from the average session volume of 770,361 shares. The stock had previously closed at $50.36.
William Blair reiterated an “outperform” rating on shares of Merus in a research report on Monday, April 22nd. BMO Capital Markets upped their price objective on shares of Merus from $84.00 to $91.00 and gave the stock an “outperform” rating in a report on Tuesday. StockNews.com downgraded shares of Merus from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd. Truist Financial upped their price objective on shares of Merus from $69.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Canaccord Genuity Group upped their price objective on shares of Merus from $54.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.70.
Hedge Funds Weigh In On Merus
Institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC grew its position in Merus by 37.7% during 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 period. Allspring Global Investments Holdings LLC purchased a new stake in Merus during the first quarter valued at about $72,000. Tower Research Capital LLC TRC lifted its holdings in Merus by 64.1% during the fourth 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 last quarter. SG Americas Securities LLC purchased a new stake in Merus during the first quarter valued at about $108,000. Finally, Exchange Traded Concepts LLC lifted its holdings in Merus by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,753 shares of the biotechnology company’s stock valued at $158,000 after purchasing an additional 1,459 shares during the last quarter. Institutional investors own 96.14% of the company’s stock.
Merus Price Performance
The business’s fifty day moving average price is $45.93 and its 200-day moving average price is $39.02. The stock has a market capitalization of $3.08 billion, a PE ratio of -18.75 and a beta of 1.10.
Merus (NASDAQ:MRUS – Get Free Report) last announced its earnings results on Wednesday, May 8th. The biotechnology company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.24. The business had revenue of $7.89 million for the quarter, compared to the consensus estimate of $8.94 million. Merus had a negative net margin of 390.36% and a negative return on equity of 44.13%. On average, analysts expect that Merus will post -3.13 earnings per share for the current fiscal year.
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.