Merus (NASDAQ:MRUS) Lowered to “Neutral” Rating by Citigroup

Citigroup downgraded shares of Merus (NASDAQ:MRUS) from a buy rating to a neutral rating in a research report released on Monday morning, Marketbeat Ratings reports. The firm currently has $97.00 price objective on the biotechnology company’s stock, down from their prior price objective of $101.00.

Several other research analysts have also weighed in on the stock. Alliance Global Partners started coverage on shares of Merus in a report on Monday, August 25th. They set a “buy” rating and a $90.00 price objective on the stock. Needham & Company LLC cut their price target on shares of Merus from $97.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Wall Street Zen cut shares of Merus from a “hold” rating to a “sell” rating in a research note on Sunday, July 20th. Industrial Alliance Securities set a $90.00 price objective on Merus in a report on Monday, August 25th. Finally, HC Wainwright upgraded Merus to a “strong-buy” rating in a report on Wednesday, August 6th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Merus currently has an average rating of “Moderate Buy” and a consensus target price of $92.73.

Merus Trading Up 36.0%

Merus stock opened at $93.67 on Monday. The stock has a 50-day moving average price of $67.16 and a 200 day moving average price of $54.84. Merus has a 52 week low of $33.19 and a 52 week high of $94.56. The stock has a market cap of $7.08 billion, a PE ratio of -17.03 and a beta of 1.19.

Merus (NASDAQ:MRUS) last released its quarterly earnings results on Tuesday, August 5th. The biotechnology company reported ($2.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($1.06). The firm had revenue of $8.83 million for the quarter, compared to analyst estimates of $9.77 million. Merus had a negative return on equity of 50.28% and a negative net margin of 685.64%. On average, equities analysts predict that Merus will post -3.85 EPS for the current year.

Insider Buying and Selling at Merus

In other news, COO Peter B. Silverman sold 25,000 shares of the stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $60.00, for a total value of $1,500,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 48,500 shares of company stock valued at $2,792,500 over the last ninety days. 3.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Merus

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GF Fund Management CO. LTD. raised its stake in shares of Merus by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 1,753 shares of the biotechnology company’s stock valued at $74,000 after purchasing an additional 315 shares during the period. Knights of Columbus Asset Advisors LLC increased its stake in Merus by 2.7% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 13,785 shares of the biotechnology company’s stock worth $580,000 after buying an additional 361 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Merus by 15.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,674 shares of the biotechnology company’s stock worth $141,000 after buying an additional 362 shares during the period. Avanza Fonder AB lifted its holdings in Merus by 14.1% in the 2nd quarter. Avanza Fonder AB now owns 3,136 shares of the biotechnology company’s stock worth $165,000 after buying an additional 387 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Merus by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,101 shares of the biotechnology company’s stock valued at $257,000 after buying an additional 511 shares during the last quarter. Hedge funds and other institutional investors 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.