Bank of America Cuts Merus (NASDAQ:MRUS) Price Target to $70.00

Merus (NASDAQ:MRUS) had its target price cut by Bank of America from $73.00 to $70.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

A number of other research firms have also recently commented on MRUS. Piper Sandler started coverage on Merus in a research note on Thursday, February 13th. They issued an “overweight” rating and a $84.00 target price for the company. Guggenheim reissued a “buy” rating on shares of Merus in a report on Wednesday, February 12th. The Goldman Sachs Group began coverage on shares of Merus in a research report on Thursday, November 21st. They set a “buy” rating and a $73.00 price objective on the stock. Needham & Company LLC decreased their price target on Merus from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $85.00 price objective on shares of Merus in a report on Monday, March 3rd. One investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $85.31.

Merus Stock Performance

NASDAQ MRUS opened at $49.16 on Monday. Merus has a fifty-two week low of $37.77 and a fifty-two week high of $61.61. The stock has a market cap of $3.40 billion, a P/E ratio of -12.45 and a beta of 1.15. The stock has a 50 day simple moving average of $42.71 and a two-hundred day simple moving average of $46.42.

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

Hedge Funds Weigh In On Merus

Hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its stake in Merus by 27.3% during the fourth quarter. Wells Fargo & Company MN now owns 1,400 shares of the biotechnology company’s stock valued at $59,000 after buying an additional 300 shares during the last quarter. Parkman Healthcare Partners LLC raised its stake in Merus by 0.7% during the fourth quarter. Parkman Healthcare Partners LLC now owns 45,680 shares of the biotechnology company’s stock valued at $1,921,000 after purchasing an additional 331 shares in the last quarter. Deutsche Bank AG lifted its position in Merus by 0.4% during the fourth quarter. Deutsche Bank AG now owns 113,056 shares of the biotechnology company’s stock valued at $4,754,000 after purchasing an additional 416 shares during the last quarter. Gordian Capital Singapore Pte Ltd grew its stake in shares of Merus by 10.4% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 5,000 shares of the biotechnology company’s stock worth $250,000 after buying an additional 470 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Merus by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 52,636 shares of the biotechnology company’s stock worth $2,213,000 after buying an additional 540 shares during the last quarter. Hedge funds and other institutional investors own 96.14% of the company’s stock.

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.