Merus (NASDAQ:MRUS) Reaches New 12-Month High – Here’s Why

Merus N.V. (NASDAQ:MRUS) shares hit a new 52-week high during trading on Thursday . The company traded as high as $95.35 and last traded at $95.24, with a volume of 73210 shares. The stock had previously closed at $95.18.

Wall Street Analyst Weigh In

Several research firms recently commented on MRUS. Barclays restated an “equal weight” rating and set a $97.00 target price (down previously from $112.00) on shares of Merus in a research report on Tuesday, September 30th. Alliance Global Partners initiated coverage on Merus in a research note on Monday, August 25th. They set a “buy” rating and a $90.00 price objective for the company. Leerink Partnrs downgraded shares of Merus from a “strong-buy” rating to a “hold” rating in a research note on Sunday, October 5th. UBS Group lowered shares of Merus from a “buy” rating to a “neutral” rating and upped their target price for the stock from $72.00 to $97.00 in a report on Tuesday, September 30th. Finally, Guggenheim reiterated a “neutral” rating and set a $97.00 target price (down previously from $109.00) on shares of Merus in a research report on Tuesday, September 30th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $92.35.

Merus Trading Up 0.1%

The firm’s 50 day moving average price is $83.94 and its two-hundred day moving average price is $65.23. The company has a market capitalization of $7.22 billion, a P/E ratio of -17.97 and a beta of 1.26.

Merus (NASDAQ:MRUS) last announced its quarterly earnings data on Tuesday, August 5th. The biotechnology company reported ($2.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($1.06). The company had revenue of $8.83 million for the quarter, compared to the consensus estimate of $9.77 million. Merus had a negative return on equity of 52.99% and a negative net margin of 673.31%. Analysts anticipate that Merus N.V. will post -3.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Merus

Large investors have recently added to or reduced their stakes in the stock. Paradigm Biocapital Advisors LP raised its holdings in Merus by 99.4% in the 1st quarter. Paradigm Biocapital Advisors LP now owns 3,369,699 shares of the biotechnology company’s stock valued at $141,831,000 after acquiring an additional 1,679,777 shares in the last quarter. Wellington Management Group LLP raised its stake in Merus by 34.9% in the first quarter. Wellington Management Group LLP now owns 4,718,172 shares of the biotechnology company’s stock valued at $198,588,000 after purchasing an additional 1,220,519 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Merus by 1,007.3% during the second quarter. Ameriprise Financial Inc. now owns 1,133,857 shares of the biotechnology company’s stock worth $59,641,000 after purchasing an additional 1,031,457 shares during the period. Alpine Associates Management Inc. bought a new stake in Merus during the third quarter worth about $78,672,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Merus during the second quarter worth about $43,837,000. Institutional investors and hedge funds own 96.14% of the company’s stock.

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.