Merus (NASDAQ:MRUS) Receives Neutral Rating from Citigroup
Citigroup has reaffirmed a "neutral" rating for Merus (NASDAQ:MRUS) and adjusted its price target from $101.00 to $97.00. This target suggests a potential upside of 40.80% from the previous close. Other analysts have varied opinions, with one downgrading to "sell" and others issuing "buy" or "strong-buy" ratings. Merus recently reported a quarterly loss of $2.23 per share, missing estimates, and has a market cap of $5.21 billion. Insiders have sold shares, while institutional investors hold 96.14% of the stock.
Merus (NASDAQ:MRUS - Get Free Report)'s stock had its "neutral" rating reissued by equities research analysts at Citigroup in a research note issued to investors on Monday,Benzinga reports. They currently have a $97.00 target price on the biotechnology company's stock, down from their prior target price of $101.00. Citigroup's price target indicates a potential upside of 40.80% from the company's previous close.
Several other equities analysts also recently commented on the stock. Wall Street Zen downgraded shares of Merus from a "hold" rating to a "sell" rating in a research note on Sunday, July 20th. Alliance Global Partners initiated coverage on shares of Merus in a research note on Monday, August 25th. They issued a "buy" rating and a $90.00 price objective for the company. HC Wainwright upgraded shares of Merus to a "strong-buy" rating in a research report on Wednesday, August 6th. Barclays initiated coverage on shares of Merus in a report on Wednesday, September 17th. They set an "overweight" rating and a $112.00 price target on the stock. Finally, Industrial Alliance Securities set a $90.00 price objective on Merus in a report on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $90.54.
Check Out Our Latest Research Report on Merus
Merus Trading Up 1.2%
Shares of Merus stock opened at $68.89 on Monday. The company has a 50 day moving average of $66.53 and a 200-day moving average of $54.52. Merus has a 1-year low of $33.19 and a 1-year high of $70.65. The company has a market cap of $5.21 billion, a PE ratio of -12.53 and a beta of 1.19.
Merus (NASDAQ:MRUS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The biotechnology company reported ($2.23) earnings per share for the quarter, missing analysts' consensus estimates of ($1.17) by ($1.06). The firm 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 50.28% and a negative net margin of 685.64%. Research analysts forecast that Merus will post -3.85 earnings per share for the current year.
Insiders Place Their Bets
In other news, COO Peter B. Silverman sold 25,000 shares of Merus 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 can be accessed through the SEC website. In the last three months, insiders sold 48,500 shares of company stock worth $2,792,500. Company insiders own 3.70% of the company's stock.
Institutional Investors Weigh In On Merus
Several large investors have recently added to or reduced their stakes in MRUS. Voya Investment Management LLC lifted its stake in Merus by 26.3% in the first quarter. Voya Investment Management LLC now owns 78,280 shares of the biotechnology company's stock valued at $3,295,000 after buying an additional 16,280 shares during the period. US Bancorp DE grew its holdings in Merus by 324.1% in the first quarter. US Bancorp DE now owns 2,935 shares of the biotechnology company's stock worth $124,000 after purchasing an additional 2,243 shares during the period. Atle Fund Management AB grew its holdings in Merus by 69.7% in the second quarter. Atle Fund Management AB now owns 59,889 shares of the biotechnology company's stock worth $3,150,000 after purchasing an additional 24,597 shares during the period. GAMMA Investing LLC increased its stake in Merus by 2,153.6% in the first 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. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Merus by 30.0% during the first quarter. PNC Financial Services Group Inc. now owns 5,800 shares of the biotechnology company's stock valued at $244,000 after purchasing an additional 1,340 shares during the period. Institutional investors and hedge funds own 96.14% of the company's stock.
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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