Merus (NASDAQ:MRUS) Trading 7.5% Higher – Here’s What Happened

Merus (NASDAQ:MRUS) shares traded up 7.5% on Wednesday . The company traded as high as $42.57 and last traded at $42.57. 557,280 shares changed hands during trading, a decline of 20% from the average session volume of 697,193 shares. The stock had previously closed at $39.60.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MRUS shares. Bank of America dropped their price target on shares of Merus from $73.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. William Blair reaffirmed an “outperform” rating on shares of Merus in a research report on Friday, February 28th. HC Wainwright reissued a “buy” rating and issued a $85.00 price target on shares of Merus in a report on Monday, March 3rd. Guggenheim restated a “buy” rating and set a $109.00 price objective on shares of Merus in a report on Friday, March 28th. Finally, Needham & Company LLC decreased their price target on shares of Merus from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $85.31.

Merus Stock Up 8.6 %

The firm has a market capitalization of $2.97 billion, a P/E ratio of -10.89 and a beta of 1.02. The business’s 50 day moving average is $44.03 and its two-hundred day moving average is $45.91.

Merus (NASDAQ:MRUS) last issued its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.48. The company had revenue of $9.14 million during the quarter, compared to analyst estimates of $10.57 million. Merus had a negative net margin of 680.61% and a negative return on equity of 38.89%. As a group, equities analysts anticipate that Merus will post -3.85 earnings per share for the current fiscal year.

Institutional Trading of Merus

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

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.