Merus (NASDAQ:MRUS) Now Covered by Analysts at Alliance Global Partners

Key Points

• Alliance Global Partners has initiated coverage of Merus (NASDAQ:MRUS), setting a "buy" rating with a price target of $90.00, implying a potential upside of 33.35% from the current price.
• Merus reported a significant earnings miss in its latest quarter, with earnings per share of ($2.23) compared to the consensus estimate of ($1.17).
• Insider selling has been notable, with COO Peter B. Silverman selling 25,000 shares for $1.5 million, contributing to a total of 82,500 shares sold by insiders in the last three months.

Equities researchers at Alliance Global Partners initiated coverage on shares of Merus (NASDAQ:MRUS - Get Free Report) in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The brokerage set a "buy" rating and a $90.00 price target on the biotechnology company's stock. Alliance Global Partners' target price suggests a potential upside of 33.35% from the stock's current price.

Other research analysts have also issued reports about the stock. William Blair reissued an "outperform" rating on shares of Merus in a research note on Monday, April 28th. Needham & Company LLC reduced their price target on shares of Merus from $97.00 to $96.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Wall Street Zen lowered shares of Merus from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. HC Wainwright raised shares of Merus to a "strong-buy" rating in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company reduced their price target on shares of Merus from $91.00 to $89.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the stock. Based on data from MarketBeat.com, Merus presently has an average rating of "Buy" and a consensus price target of $88.64.

Merus Price Performance

MRUS opened at $67.49 on Monday. The company's 50 day simple moving average is $59.91 and its two-hundred day simple moving average is $50.50. Merus has a 1-year low of $33.19 and a 1-year high of $68.00. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of -12.27 and a beta of 1.09.

Merus (NASDAQ:MRUS - Get Free Report) last released its earnings results on Tuesday, August 5th. The biotechnology company reported ($2.23) earnings per share for the quarter, missing analysts' consensus estimates of ($1.17) by ($1.06). Merus had a negative return on equity of 50.28% and a negative net margin of 685.64%.The business had revenue of $8.83 million during the quarter, compared to analysts' expectations of $9.77 million. On average, equities analysts anticipate that Merus will post -3.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Peter B. Silverman sold 25,000 shares of Merus stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $60.00, for a total value of $1,500,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 82,500 shares of company stock valued at $4,586,340. 3.70% of the stock is currently owned by company insiders.

Institutional Trading of Merus

Several institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its holdings in Merus by 27.3% in the 4th quarter. Wells Fargo & Company MN now owns 1,400 shares of the biotechnology company's stock valued at $59,000 after purchasing an additional 300 shares during the last quarter. GF Fund Management CO. LTD. increased its holdings in Merus by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,753 shares of the biotechnology company's stock valued at $74,000 after purchasing an additional 315 shares during the last quarter. Parkman Healthcare Partners LLC increased its holdings in Merus by 0.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 45,680 shares of the biotechnology company's stock valued at $1,921,000 after purchasing an additional 331 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its holdings in Merus by 2.7% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 13,785 shares of the biotechnology company's stock valued at $580,000 after purchasing an additional 361 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Merus by 15.7% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,674 shares of the biotechnology company's stock valued at $141,000 after purchasing an additional 362 shares during 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.

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