Merus (NASDAQ:MRUS) Stock Price Down 2.2% on Analyst Downgrade

Shares of Merus (NASDAQ:MRUSGet Free Report) dropped 2.2% on Wednesday after Bank of America lowered their price target on the stock from $80.00 to $76.00. Bank of America currently has a buy rating on the stock. Merus traded as low as $48.93 and last traded at $49.23. Approximately 36,045 shares changed hands during trading, a decline of 95% from the average daily volume of 770,361 shares. The stock had previously closed at $50.36.

MRUS has been the topic of a number of other reports. Truist Financial boosted their target price on Merus from $69.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday. William Blair reissued an “outperform” rating on shares of Merus in a report on Monday, April 22nd. StockNews.com lowered Merus from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd. Canaccord Genuity Group upped their price objective on Merus from $54.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday. Finally, BMO Capital Markets upped their price objective on Merus from $84.00 to $91.00 and gave the company an “outperform” rating in a report on Tuesday. One analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Merus currently has an average rating of “Moderate Buy” and an average price target of $72.70.

Read Our Latest Report on MRUS

Institutional Trading of Merus

Several institutional investors and hedge funds have recently modified their holdings of MRUS. RTW Investments LP increased its stake in shares of Merus by 90.0% in the third quarter. RTW Investments LP now owns 1,996,764 shares of the biotechnology company’s stock valued at $47,084,000 after buying an additional 945,871 shares during the period. HealthInvest Partners AB bought a new position in Merus in the fourth quarter worth approximately $669,000. Trexquant Investment LP boosted its holdings in Merus by 138.4% in the fourth quarter. Trexquant Investment LP now owns 40,489 shares of the biotechnology company’s stock worth $1,113,000 after acquiring an additional 23,503 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Merus in the fourth quarter worth approximately $1,320,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in Merus in the third quarter worth approximately $2,358,000. 96.14% of the stock is currently owned by institutional investors.

Merus Price Performance

The firm has a fifty day simple moving average of $46.08 and a 200-day simple moving average of $39.11. The firm has a market cap of $3.08 billion, a P/E ratio of -18.92 and a beta of 1.10.

Merus (NASDAQ:MRUSGet Free Report) last posted its earnings results on Wednesday, May 8th. The biotechnology company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.24. The company had revenue of $7.89 million for the quarter, compared to analyst estimates of $8.94 million. Merus had a negative return on equity of 44.13% and a negative net margin of 390.36%. On average, equities analysts predict that Merus will post -3.13 earnings per share for the current year.

Merus Company Profile

(Get Free Report)

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.

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