Merus (NASDAQ:MRUS) Shares Up 5.1% – Here’s Why

Merus (NASDAQ:MRUS)’s share price rose 5.1% on Friday . The company traded as high as $44.48 and last traded at $44.40. Approximately 452,918 shares changed hands during trading, an increase of 28% from the average daily volume of 352,633 shares. The stock had previously closed at $42.23.

Analysts Set New Price Targets

A number of research firms recently issued reports on MRUS. UBS Group initiated coverage on Merus in a research report on Thursday, October 24th. They set a “buy” rating and a $72.00 price objective for the company. Guggenheim restated a “buy” rating and set a $109.00 price target (down previously from $111.00) on shares of Merus in a research report on Tuesday, December 3rd. HC Wainwright reiterated a “buy” rating and issued a $85.00 price objective on shares of Merus in a research report on Monday, December 2nd. Citigroup upped their target price on shares of Merus from $89.00 to $97.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $85.00 price objective on shares of Merus in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $85.64.

Merus Stock Performance

The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -11.10 and a beta of 1.10. The stock’s fifty day simple moving average is $45.17 and its two-hundred day simple moving average is $49.87.

Merus (NASDAQ:MRUS) last announced its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.05). The business had revenue of $11.77 million during the quarter, compared to analysts’ expectations of $9.11 million. Merus had a negative return on equity of 38.89% and a negative net margin of 680.61%. On average, equities analysts anticipate that Merus will post -3.89 EPS for the current fiscal year.

Institutional Trading of Merus

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of Merus by 73.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,887,514 shares of the biotechnology company’s stock valued at $144,260,000 after buying an additional 1,224,573 shares during the last quarter. Marshall Wace LLP grew its position in Merus by 813.3% in the second quarter. Marshall Wace LLP now owns 957,952 shares of the biotechnology company’s stock worth $56,682,000 after acquiring an additional 853,060 shares in the last quarter. Logos Global Management LP bought a new stake in Merus in the second quarter worth $50,294,000. Novo Holdings A S acquired a new position in Merus during the second quarter worth $39,940,000. Finally, FMR LLC raised its holdings in Merus by 10.4% during the third quarter. FMR LLC now owns 6,873,926 shares of the biotechnology company’s stock valued at $343,421,000 after buying an additional 648,994 shares in the last quarter. 96.14% of the stock is currently owned by hedge funds and other institutional investors.

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.