Merus (NASDAQ:MRUS) Reaches New 1-Year High - Here's What Happened

Merus (NASDAQ:MRUS - Get Free Report)'s share price hit a new 52-week high on Tuesday . The stock traded as high as $62.03 and last traded at $61.78, with a volume of 406774 shares trading hands. The stock had previously closed at $58.53.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. HC Wainwright restated a "buy" rating and issued a $85.00 target price on shares of Merus in a research note on Monday, March 3rd. BMO Capital Markets set a $110.00 target price on Merus and gave the company an "outperform" rating in a research note on Friday, May 23rd. Wells Fargo & Company decreased their target price on Merus from $91.00 to $89.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Guggenheim restated a "buy" rating and issued a $109.00 target price on shares of Merus in a research note on Friday, March 28th. Finally, William Blair restated an "outperform" rating on shares of Merus in a research note on Monday, April 28th. Fourteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $86.00.

Merus Price Performance

The company has a market cap of $3.99 billion, a P/E ratio of -14.58 and a beta of 0.94. The company has a fifty day simple moving average of $44.18 and a 200-day simple moving average of $43.78.

Merus (NASDAQ:MRUS - Get Free Report) last posted 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). Merus had a negative net margin of 680.61% and a negative return on equity of 38.89%. The company had revenue of $26.49 million during the quarter, compared to the consensus estimate of $7.82 million. On average, analysts anticipate that Merus will post -3.85 EPS for the current year.

Institutional Trading of Merus

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in Merus by 2,153.6% during the 1st quarter. GAMMA Investing LLC now owns 631 shares of the biotechnology company's stock valued at $27,000 after purchasing an additional 603 shares during the period. State of Wyoming purchased a new position in shares of Merus during the 4th quarter valued at $48,000. Wells Fargo & Company MN grew its holdings in shares of Merus by 27.3% during 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. GF Fund Management CO. LTD. purchased a new position in shares of Merus during the 4th quarter valued at $60,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Merus by 955.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,794 shares of the biotechnology company's stock valued at $76,000 after acquiring an additional 1,624 shares in the last quarter. 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.