Merus (NASDAQ:MRUS) Price Target Raised to $93.00

Merus (NASDAQ:MRUS) had its price objective upped by equities researchers at Citigroup from $70.00 to $93.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Citigroup’s price objective would indicate a potential upside of 63.70% from the company’s previous close.

Other research analysts have also issued reports about the stock. Truist Financial increased their price target on shares of Merus from $69.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Bank of America reiterated a “buy” rating and issued a $76.00 price target on shares of Merus in a research note on Tuesday. William Blair reiterated an “outperform” rating on shares of Merus in a research note on Monday, April 22nd. Canaccord Genuity Group increased their price objective on shares of Merus from $54.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Finally, Stifel Nicolaus raised their price target on shares of Merus from $90.00 to $99.00 and gave the company a “buy” rating in a report on Monday, June 17th. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Merus currently has a consensus rating of “Moderate Buy” and an average target price of $78.30.

Merus Trading Up 0.1 %

NASDAQ MRUS traded up $0.03 during trading on Wednesday, hitting $56.81. The company had a trading volume of 313,370 shares, compared to its average volume of 787,250. Merus has a one year low of $19.81 and a one year high of $61.61. The company has a market cap of $3.33 billion, a price-to-earnings ratio of -20.51 and a beta of 1.10. The company’s fifty day moving average is $49.39 and its 200-day moving average is $42.29.

Merus (NASDAQ:MRUS) last issued its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.24. The business had revenue of $7.89 million during the quarter, compared to analyst estimates of $8.94 million. Merus had a negative net margin of 390.36% and a negative return on equity of 44.13%. As a group, equities analysts anticipate that Merus will post -3.1 EPS for the current year.

Insider Buying and Selling

In related news, VP Harry Shuman sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $53.22, for a total value of $53,220.00. Following the transaction, the vice president now owns 7,002 shares of the company’s stock, valued at $372,646.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 14,300 shares of company stock valued at $792,792. 4.57% of the stock is owned by insiders.

Institutional Investors Weigh In On Merus

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Great Point Partners LLC bought a new stake in Merus during the 4th quarter worth approximately $550,000. RTW Investments LP raised its stake in Merus by 90.0% during the 3rd quarter. RTW Investments LP now owns 1,996,764 shares of the biotechnology company’s stock worth $47,084,000 after acquiring an additional 945,871 shares during the period. HealthInvest Partners AB bought a new stake in Merus during the 4th quarter worth approximately $669,000. Trexquant Investment LP raised its position in shares of Merus by 138.4% during the fourth quarter. Trexquant Investment LP now owns 40,489 shares of the biotechnology company’s stock valued at $1,113,000 after buying an additional 23,503 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Merus during the fourth quarter valued at approximately $1,320,000. 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.