FY2024 Earnings Forecast for Merus Issued By Leerink Partnrs

Merus (NASDAQ:MRUS - Free Report) - Analysts at Leerink Partnrs increased their FY2024 earnings estimates for Merus in a research note issued on Wednesday, February 5th. Leerink Partnrs analyst A. Berens now anticipates that the biotechnology company will post earnings per share of ($3.99) for the year, up from their prior forecast of ($4.34). The consensus estimate for Merus' current full-year earnings is ($3.89) per share. Leerink Partnrs also issued estimates for Merus' Q4 2024 earnings at ($1.04) EPS, Q4 2025 earnings at ($1.33) EPS, FY2025 earnings at ($5.08) EPS, FY2026 earnings at ($2.34) EPS and FY2027 earnings at $4.05 EPS.

A number of other analysts have also recently issued reports on MRUS. Wells Fargo & Company assumed coverage on shares of Merus in a research note on Friday, February 7th. They set an "overweight" rating and a $91.00 target price for the company. Needham & Company LLC restated a "buy" rating and set a $85.00 target price on shares of Merus in a research note on Monday, December 9th. Piper Sandler started coverage on shares of Merus in a research note on Thursday. They issued an "overweight" rating and a $84.00 price objective for the company. Citigroup lifted their price objective on shares of Merus from $89.00 to $97.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group started coverage on shares of Merus in a research note on Thursday, November 21st. They issued a "buy" rating and a $73.00 price objective for the company. One equities 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 company's stock. According to MarketBeat.com, Merus presently has a consensus rating of "Buy" and an average price target of $85.92.

Merus Stock Up 0.1 %

Shares of NASDAQ MRUS traded up $0.04 during mid-day trading on Monday, reaching $40.30. 235,878 shares of the company were exchanged, compared to its average volume of 577,330. The company's 50-day simple moving average is $41.71 and its 200-day simple moving average is $47.37. The stock has a market capitalization of $2.76 billion, a P/E ratio of -10.20 and a beta of 1.11. Merus has a twelve month low of $37.77 and a twelve month high of $61.61.

Institutional Investors Weigh In On Merus

Several hedge funds and other institutional investors have recently made changes to their positions in MRUS. Wells Fargo & Company MN grew its holdings in Merus by 27.3% during the 4th 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 during the last quarter. Avior Wealth Management LLC bought a new stake in Merus during the 4th quarter worth approximately $76,000. nVerses Capital LLC grew its holdings in Merus by 750.0% during the 3rd quarter. nVerses Capital LLC now owns 1,700 shares of the biotechnology company's stock worth $85,000 after acquiring an additional 1,500 shares during the last quarter. US Bancorp DE acquired a new position in shares of Merus in the 3rd quarter worth approximately $103,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Merus by 24.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,467 shares of the biotechnology company's stock worth $118,000 after purchasing an additional 489 shares during the period. 96.14% of the stock is owned by 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.