Merus (NASDAQ:MRUS) Earns Buy Rating from Needham & Company LLC

Merus (NASDAQ:MRUS)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report issued on Friday, Benzinga reports. They currently have a $85.00 price target on the biotechnology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 70.24% from the company’s current price.

MRUS has been the topic of several other reports. UBS Group started coverage on Merus in a research note on Thursday, October 24th. They set a “buy” rating and a $72.00 price objective on the stock. Canaccord Genuity Group upgraded shares of Merus to a “strong-buy” rating in a report on Thursday, July 25th. Guggenheim increased their price objective on shares of Merus from $93.00 to $111.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. HC Wainwright reaffirmed a “buy” rating and issued a $85.00 target price on shares of Merus in a report on Friday. Finally, Lifesci Capital upgraded Merus to a “strong-buy” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $82.91.

Merus Price Performance

MRUS opened at $49.93 on Friday. Merus has a fifty-two week low of $19.89 and a fifty-two week high of $61.61. The firm has a market capitalization of $3.41 billion, a PE ratio of -17.10 and a beta of 1.11. The company’s 50-day moving average is $51.01 and its 200 day moving average is $51.17.

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 analysts’ consensus estimates of ($0.76) by ($0.05). The company had revenue of $7.33 million during the quarter, compared to the consensus estimate of $9.64 million. Merus had a negative net margin of 476.41% and a negative return on equity of 36.33%. As a group, analysts expect that Merus will post -3.27 EPS for the current year.

Institutional Investors Weigh In On Merus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Merus by 24.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,467 shares of the biotechnology company’s stock valued at $118,000 after acquiring an additional 489 shares during the period. California State Teachers Retirement System lifted its holdings in Merus by 2.9% during the 1st quarter. California State Teachers Retirement System now owns 33,745 shares of the biotechnology company’s stock worth $1,520,000 after purchasing an additional 936 shares in the last quarter. Swiss National Bank lifted its holdings in Merus by 1.9% during the 1st quarter. Swiss National Bank now owns 74,054 shares of the biotechnology company’s stock worth $3,335,000 after purchasing an additional 1,400 shares in the last quarter. nVerses Capital LLC boosted its stake in Merus by 750.0% in the 3rd quarter. nVerses Capital LLC now owns 1,700 shares of the biotechnology company’s stock worth $85,000 after purchasing an additional 1,500 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in Merus during the 1st quarter valued at about $72,000. 96.14% of the stock is currently owned by institutional investors.

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.