Bank of America Has Lowered Expectations for Merus (NASDAQ:MRUS) Stock Price

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

A number of other equities analysts also recently commented on the company. Citigroup upped their target price on Merus from $89.00 to $97.00 and gave the company a "buy" rating in a report on Monday, December 9th. Guggenheim restated a "buy" rating on shares of Merus in a report on Wednesday, February 12th. HC Wainwright reiterated a "buy" rating and issued a $85.00 price objective on shares of Merus in a report on Monday, March 3rd. Wells Fargo & Company began coverage on Merus in a report on Friday, February 7th. They issued an "overweight" rating and a $91.00 price objective for the company. Finally, Piper Sandler began coverage on Merus in a report on Thursday, February 13th. They issued an "overweight" rating and a $84.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $85.31.

Remove Ads

Merus Trading Down 1.1 %

MRUS stock traded down $0.54 during midday trading on Monday, hitting $47.10. The company had a trading volume of 490,572 shares, compared to its average volume of 647,510. Merus has a 52 week low of $37.77 and a 52 week high of $61.61. The stock's 50 day moving average price is $42.90 and its 200 day moving average price is $46.39. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of -11.92 and a beta of 1.15.

Merus (NASDAQ:MRUS - Get Free Report) last announced its earnings results on Thursday, February 27th. The biotechnology company reported ($0.41) EPS for the quarter, beating analysts' consensus estimates of ($0.89) by $0.48. The company had revenue of $9.14 million during the quarter, compared to the consensus estimate of $10.57 million. Merus had a negative return on equity of 38.89% and a negative net margin of 680.61%. Analysts predict that Merus will post -3.85 earnings per share for the current year.

Institutional Investors Weigh In On Merus

Institutional investors have recently modified their holdings of the business. State of Wyoming purchased a new stake in shares of Merus during the fourth quarter valued at $48,000. Wells Fargo & Company MN boosted its position in shares of 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. GF Fund Management CO. LTD. purchased a new stake in shares of Merus during the fourth quarter valued at $60,000. Avior Wealth Management LLC purchased a new stake in shares of Merus during the fourth quarter valued at $76,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Merus during the fourth quarter valued at $84,000. 96.14% of the stock is owned by hedge funds and other 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.