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

Merus (NASDAQ:MRUS) had its price target lifted by Guggenheim from $93.00 to $111.00 in a report published on Tuesday, Benzinga reports. Guggenheim currently has a buy rating on the biotechnology company’s stock.

Other analysts have also issued reports about the company. Needham & Company LLC dropped their price objective on Merus from $92.00 to $85.00 and set a buy rating on the stock in a report on Monday, August 5th. Canaccord Genuity Group raised shares of Merus to a strong-buy rating in a report on Thursday, July 25th. Stifel Nicolaus increased their price objective on shares of Merus from $90.00 to $99.00 and gave the company a buy rating in a report on Monday, June 17th. Lifesci Capital upgraded shares of Merus to a strong-buy rating in a research report on Monday, July 29th. Finally, Truist Financial upped their price target on shares of Merus from $69.00 to $88.00 and gave the stock a buy rating in a research report on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $82.00.

Merus Price Performance

Shares of NASDAQ MRUS opened at $51.78 on Tuesday. The firm’s 50 day simple moving average is $50.85 and its 200-day simple moving average is $50.14. Merus has a 12 month low of $19.81 and a 12 month high of $61.61. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -18.69 and a beta of 1.11.

Merus (NASDAQ:MRUS) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.05). Merus had a negative return on equity of 36.33% and a negative net margin of 476.41%. The firm had revenue of $7.33 million during the quarter, compared to analyst estimates of $9.64 million. Analysts anticipate that Merus will post -3.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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