Merus (NASDAQ:MRUS) Hits New 1-Year 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) shares hit a new 52-week high during trading on Thursday . The company traded as high as $67.31 and last traded at $66.77, with a volume of 45674 shares trading hands. The stock had previously closed at $66.16.

Analyst Ratings Changes

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

Merus Stock Performance

The firm has a market cap of $4.53 billion, a P/E ratio of -16.06 and a beta of 1.09. The firm has a fifty day moving average of $56.89 and a 200-day moving average of $47.88.

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

Insider Activity

In related news, COO Peter B. Silverman sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $60.00, for a total value of $1,500,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 82,500 shares of company stock valued at $4,586,340. Company insiders own 4.57% of the company's stock.

Institutional Trading of Merus

Several large investors have recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd acquired a new stake in Merus in the 2nd quarter valued at approximately $885,000. State of New Jersey Common Pension Fund D increased its position in Merus by 9.4% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 45,275 shares of the biotechnology company's stock valued at $2,381,000 after acquiring an additional 3,895 shares during the period. Allianz Asset Management GmbH increased its position in Merus by 66.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 26,000 shares of the biotechnology company's stock valued at $1,368,000 after acquiring an additional 10,400 shares during the period. TD Asset Management Inc increased its position in Merus by 25.1% in the 2nd quarter. TD Asset Management Inc now owns 89,110 shares of the biotechnology company's stock valued at $4,687,000 after acquiring an additional 17,852 shares during the period. Finally, CWM LLC increased its position in shares of Merus by 299.0% during the 2nd quarter. CWM LLC now owns 802 shares of the biotechnology company's stock valued at $42,000 after purchasing an additional 601 shares during the period. 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.