Merus (NASDAQ:MRUS) Shares Gap Down - What's Next?

Merus (NASDAQ:MRUS - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $62.42, but opened at $58.12. Merus shares last traded at $57.18, with a volume of 1,387,323 shares.

Analysts Set New Price Targets

Several research firms have recently commented on MRUS. BMO Capital Markets set a $110.00 price target on shares of Merus and gave the company an "outperform" rating in a report on Friday, May 23rd. Piper Sandler initiated coverage on shares of Merus in a research report on Thursday, February 13th. They set an "overweight" rating and a $84.00 target price for the company. Wells Fargo & Company reduced their price objective on Merus from $91.00 to $89.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Bank of America decreased their target price on Merus from $73.00 to $70.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $75.00 price target on shares of Merus in a report on Monday, May 19th. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $85.83.

Merus Price Performance

The business has a 50 day simple moving average of $44.79 and a 200 day simple moving average of $43.95. The company has a market cap of $3.89 billion, a price-to-earnings ratio of -14.23 and a beta of 1.04.

Merus (NASDAQ:MRUS - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $26.49 million for the quarter, compared to analyst estimates of $7.82 million. Merus had a negative return on equity of 38.89% and a negative net margin of 680.61%. As a group, sell-side analysts anticipate that Merus will post -3.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Merus

Institutional investors and hedge funds have recently modified their holdings of the business. State of New Jersey Common Pension Fund D grew its position in shares of Merus by 29.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 48,268 shares of the biotechnology company's stock worth $2,030,000 after buying an additional 10,842 shares during the period. Raymond James Financial Inc. acquired a new stake in Merus in the 4th quarter valued at $347,000. Wells Fargo & Company MN increased its position in shares of Merus by 27.3% in the fourth 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 during the last quarter. Northern Trust Corp raised its stake in shares of Merus by 61.2% during the 4th quarter. Northern Trust Corp now owns 76,335 shares of the biotechnology company's stock worth $3,210,000 after purchasing an additional 28,983 shares in the last quarter. Finally, Baker BROS. Advisors LP raised its position in Merus by 50.0% during the fourth quarter. Baker BROS. Advisors LP now owns 450,000 shares of the biotechnology company's stock worth $18,922,000 after acquiring an additional 150,000 shares in the last quarter. 96.14% of the stock is owned by institutional investors.

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.