Merus (NASDAQ:MRUS) Shares Gap Up on Analyst Upgrade

Merus (NASDAQ:MRUS - Get Free Report) shares gapped up prior to trading on Friday after Citigroup raised their price target on the stock from $89.00 to $97.00. The stock had previously closed at $41.60, but opened at $50.20. Citigroup currently has a buy rating on the stock. Merus shares last traded at $53.82, with a volume of 2,516,414 shares changing hands.

Several other analysts also recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Merus in a research report on Thursday, November 21st. They issued a "buy" rating and a $73.00 price target for the company. Guggenheim reaffirmed a "buy" rating and issued a $109.00 target price (down from $111.00) on shares of Merus in a report on Tuesday, December 3rd. HC Wainwright reissued a "buy" rating and set a $85.00 price target on shares of Merus in a report on Monday, December 2nd. UBS Group initiated coverage on Merus in a research report on Thursday, October 24th. They issued a "buy" rating and a $72.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $85.00 price target on shares of Merus in a report on Monday, December 9th. Fourteen research 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 presently has an average rating of "Buy" and a consensus price target of $86.00.

Institutional Trading of Merus

Several hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its stake 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 purchasing an additional 603 shares in the last quarter. State of Wyoming acquired a new position in Merus during the fourth quarter worth $48,000. Wells Fargo & Company MN raised its holdings in Merus by 27.3% during the fourth quarter. Wells Fargo & Company MN now owns 1,400 shares of the biotechnology company's stock worth $59,000 after purchasing an additional 300 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Merus during the fourth quarter worth $60,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Merus by 955.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,794 shares of the biotechnology company's stock worth $76,000 after purchasing an additional 1,624 shares during the last quarter. 96.14% of the stock is owned by institutional investors and hedge funds.

Merus Stock Down 7.9%

The firm has a fifty day moving average of $42.93 and a 200-day moving average of $43.47. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of -12.86 and a beta of 0.94.

Merus (NASDAQ:MRUS - Get Free Report) last issued 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, research analysts forecast that Merus will post -3.85 EPS for the current fiscal year.

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.