Merus (NASDAQ:MRUS) Receives “Buy” Rating from Needham & Company LLC

Merus (NASDAQ:MRUS)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research note issued on Monday,Benzinga reports. They currently have a $85.00 price target on the biotechnology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 90.37% from the company’s previous close.

Other research analysts also recently issued reports about the stock. HC Wainwright restated a “buy” rating and set a $85.00 price objective on shares of Merus in a research report on Monday, December 2nd. Guggenheim reissued a “buy” rating and set a $109.00 price target (down previously from $111.00) on shares of Merus in a report on Tuesday, December 3rd. The Goldman Sachs Group began coverage on Merus in a research note on Thursday, November 21st. They issued a “buy” rating and a $73.00 price objective on the stock. Finally, UBS Group began coverage on Merus in a research note on Thursday, October 24th. They set a “buy” rating and a $72.00 target price for the company. One research analyst has rated the stock with a sell rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Merus has an average rating of “Buy” and an average target price of $85.27.

Merus Price Performance

Shares of NASDAQ MRUS opened at $44.65 on Monday. The stock has a market capitalization of $3.06 billion, a PE ratio of -11.30 and a beta of 1.07. Merus has a fifty-two week low of $22.27 and a fifty-two week high of $61.61. The business has a fifty day moving average price of $49.73 and a two-hundred day moving average price of $51.92.

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

Institutional Investors Weigh In On Merus

Several hedge funds have recently added to or reduced their stakes in MRUS. Vanguard Group Inc. raised its stake in shares of Merus by 2.8% during the first quarter. Vanguard Group Inc. now owns 156,149 shares of the biotechnology company’s stock valued at $7,031,000 after acquiring an additional 4,192 shares during the last quarter. California State Teachers Retirement System lifted its holdings in Merus by 2.9% during the 1st quarter. California State Teachers Retirement System now owns 33,745 shares of the biotechnology company’s stock worth $1,520,000 after buying an additional 936 shares during the period. Bank of New York Mellon Corp grew its position in shares of Merus by 30.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 40,633 shares of the biotechnology company’s stock valued at $2,404,000 after buying an additional 9,488 shares during the last quarter. Legato Capital Management LLC acquired a new stake in shares of Merus in the second quarter valued at about $616,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Merus by 41.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,847 shares of the biotechnology company’s stock worth $523,000 after acquiring an additional 2,572 shares during the last quarter. 96.14% of the stock is currently owned by institutional investors and hedge funds.

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.