Merus (NASDAQ:MRUS) Sets New 52-Week High - Here's Why

Key Points

• Merus N.V. (NASDAQ:MRUS) stock reached a new 52-week high of $67.31, last trading at $66.77 with a volume of 45,674 shares.
• The company has been rated as a Moderate Buy by analysts, with an average target price of $86.40, despite mixed rating changes among analysts.
• Merus recently reported earnings of ($1.40) EPS, which missed analyst estimates by $0.23, but exceeded revenue expectations with $26.49 million for the quarter.

Merus N.V. (NASDAQ:MRUS - Get Free Report)'s stock price reached a new 52-week high on Thursday . The company traded as high as $67.31 and last traded at $66.77, with a volume of 45674 shares. The stock had previously closed at $66.16.

Analyst Ratings Changes

MRUS has been the subject of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of Merus from $91.00 to $89.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Wall Street Zen downgraded shares of Merus from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. Needham & Company LLC reiterated a "buy" rating and issued a $75.00 target price on shares of Merus in a report on Monday, May 19th. BMO Capital Markets set a $110.00 target price on shares of Merus and gave the stock an "outperform" rating in a report on Friday, May 23rd. Finally, William Blair reiterated an "outperform" rating on shares of Merus in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $86.40.

Merus Stock Performance

The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of -16.20 and a beta of 1.00. The business has a 50 day simple moving average of $56.19 and a 200-day simple moving average of $47.40.

Merus (NASDAQ:MRUS - Get Free Report) last issued its earnings results on Wednesday, May 14th. The biotechnology company reported ($1.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.23). Merus had a negative return on equity of 35.99% and a negative net margin of 506.73%. The company had revenue of $26.49 million during the quarter, compared to analyst estimates of $7.82 million. Equities analysts predict that Merus N.V. will post -3.85 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Peter B. Silverman sold 25,000 shares of the firm's 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 82,500 shares of company stock worth $4,586,340. 4.57% of the stock is currently owned by company insiders.

Institutional Trading of Merus

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC grew its position in Merus by 2,153.6% in the 1st quarter. GAMMA Investing LLC now owns 631 shares of the biotechnology company's stock valued at $27,000 after acquiring an additional 603 shares in the last quarter. CWM LLC grew its position in Merus by 299.0% in the 2nd quarter. CWM LLC now owns 802 shares of the biotechnology company's stock valued at $42,000 after acquiring an additional 601 shares in the last quarter. State of Wyoming acquired a new position in Merus in the 4th quarter valued at about $48,000. Wells Fargo & Company MN grew its position 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 acquiring an additional 300 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in Merus in the 4th quarter valued at about $60,000. 96.14% of the stock is 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.

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