Merus (NASDAQ:MRUS) Reaches New 12-Month High - Should You Buy?

Key Points

• Merus N.V. (NASDAQ:MRUS) shares reached a new 52-week high at $70.41, showing significant trading volume of 318,812 shares.
• Brokerages have mixed sentiments with target prices ranging from $90.00 to $110.00, while the average rating is a "Buy" with a target price of $88.75.
• Despite reaching a high, Merus reported a quarterly loss with earnings per share at ($2.23), missing consensus estimates, and had negative performance metrics.

Merus N.V. (NASDAQ:MRUS - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $70.41 and last traded at $70.28, with a volume of 318812 shares traded. The stock had previously closed at $67.13.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MRUS. Industrial Alliance Securities set a $90.00 target price on shares of Merus in a report on Monday, August 25th. Wall Street Zen downgraded shares of Merus from a "hold" rating to a "sell" rating in a research note on Sunday, July 20th. HC Wainwright upgraded shares of Merus to a "strong-buy" rating in a research note on Wednesday, August 6th. BMO Capital Markets set a $110.00 target price on Merus and gave the company an "outperform" rating in a research report on Friday, May 23rd. Finally, Needham & Company LLC dropped their target price on Merus from $97.00 to $96.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $88.75.

Merus Trading Up 3.9%

The stock has a market cap of $5.27 billion, a price-to-earnings ratio of -12.68 and a beta of 1.19. The stock has a 50-day moving average price of $63.45 and a two-hundred day moving average price of $52.57.

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

Insider Buying and Selling

In related news, COO Peter B. Silverman sold 25,000 shares of Merus stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $60.00, for a total transaction of $1,500,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 82,500 shares of company stock worth $4,586,340. Insiders own 3.70% of the company's stock.

Institutional Trading of Merus

Several institutional investors and hedge funds have recently bought and sold shares of MRUS. Wells Fargo & Company MN lifted its position in 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 purchasing an additional 300 shares during the period. Northern Trust Corp lifted its holdings in shares of Merus by 61.2% in the 4th quarter. Northern Trust Corp now owns 76,335 shares of the biotechnology company's stock valued at $3,210,000 after buying an additional 28,983 shares during the period. Deutsche Bank AG lifted its holdings in Merus by 0.4% in the fourth quarter. Deutsche Bank AG now owns 113,056 shares of the biotechnology company's stock valued at $4,754,000 after acquiring an additional 416 shares during the period. Janus Henderson Group PLC lifted its holdings in Merus by 12.7% in the fourth quarter. Janus Henderson Group PLC now owns 21,290 shares of the biotechnology company's stock valued at $894,000 after acquiring an additional 2,400 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in Merus in the fourth quarter valued at approximately $84,000. 96.14% of the stock is currently owned by institutional investors and hedge funds.

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.

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