Zacks: Analysts Anticipate Merus (NASDAQ:MRUS) Will Announce Quarterly Sales of $8.55 Million

Analysts expect Merus (NASDAQ:MRUSGet Rating) to post sales of $8.55 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Merus’ earnings, with estimates ranging from $3.33 million to $11.53 million. Merus reported sales of $8.35 million in the same quarter last year, which would suggest a positive year over year growth rate of 2.4%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Merus will report full-year sales of $36.67 million for the current financial year, with estimates ranging from $13.35 million to $51.00 million. For the next financial year, analysts forecast that the firm will report sales of $61.15 million, with estimates ranging from $31.60 million to $128.43 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Merus.

Merus (NASDAQ:MRUSGet Rating) last announced its quarterly earnings data on Monday, February 28th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.58) by $0.24. Merus had a negative return on equity of 27.26% and a negative net margin of 135.65%. The firm had revenue of $14.71 million for the quarter, compared to analysts’ expectations of $12.39 million.

Several equities analysts recently issued reports on MRUS shares. BMO Capital Markets started coverage on Merus in a research note on Friday, February 11th. They set an “outperform” rating and a $45.00 price objective on the stock. Zacks Investment Research cut Merus from a “buy” rating to a “hold” rating in a research note on Friday, March 4th. StockNews.com assumed coverage on Merus in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Needham & Company LLC assumed coverage on Merus in a research report on Thursday, February 10th. They issued a “buy” rating and a $45.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Merus presently has an average rating of “Buy” and an average target price of $38.89.

Shares of MRUS opened at $20.40 on Friday. The business’s fifty day moving average price is $26.03 and its 200 day moving average price is $27.27. Merus has a 12-month low of $16.14 and a 12-month high of $33.09. The stock has a market capitalization of $888.42 million, a PE ratio of -11.86 and a beta of 1.00.

In other news, EVP Peter B. Silverman sold 60,000 shares of the firm’s stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $26.95, for a total transaction of $1,617,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.90% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in shares of Merus by 134.9% during the third quarter. Wellington Management Group LLP now owns 5,009,204 shares of the biotechnology company’s stock valued at $110,201,000 after purchasing an additional 2,876,971 shares during the period. Commodore Capital LP increased its holdings in shares of Merus by 108.7% during the fourth quarter. Commodore Capital LP now owns 1,498,890 shares of the biotechnology company’s stock valued at $47,665,000 after purchasing an additional 780,754 shares during the period. BioImpact Capital LLC increased its holdings in shares of Merus by 34.4% during the third quarter. BioImpact Capital LLC now owns 941,948 shares of the biotechnology company’s stock valued at $20,723,000 after purchasing an additional 241,069 shares during the period. Lynx1 Capital Management LP acquired a new position in shares of Merus during the fourth quarter valued at $24,912,000. Finally, Millennium Management LLC increased its holdings in shares of Merus by 39.2% during the fourth quarter. Millennium Management LLC now owns 774,767 shares of the biotechnology company’s stock valued at $24,638,000 after purchasing an additional 218,244 shares during the period. 53.91% of the stock is currently owned by institutional investors.

About Merus (Get Rating)

Merus N.V., a clinical-stage immuno-oncology company, engages in the discovery and development of bispecific 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, as well as in Phase 1/2 clinical trials for the treatment of solid tumors that harbor Neuregulin 1.

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