Bank of America Cuts Merus (NASDAQ:MRUS) Price Target to $70.00

Merus (NASDAQ:MRUS) had its target price lowered by Bank of America from $73.00 to $70.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

MRUS has been the subject of several other reports. Guggenheim reissued a “buy” rating on shares of Merus in a report on Wednesday, February 12th. The Goldman Sachs Group started coverage on Merus in a research report on Thursday, November 21st. They set a “buy” rating and a $73.00 target price for the company. Citigroup upped their target price on Merus from $89.00 to $97.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Piper Sandler started coverage on Merus in a research report on Thursday, February 13th. They set an “overweight” rating and a $84.00 price target for the company. Finally, William Blair restated an “outperform” rating on shares of Merus in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $85.31.

Merus Stock Performance

NASDAQ:MRUS opened at $49.16 on Monday. The business’s fifty day moving average is $42.71 and its 200 day moving average is $46.42. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -12.45 and a beta of 1.15. Merus has a 52-week low of $37.77 and a 52-week high of $61.61.

Merus (NASDAQ:MRUS) last announced its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.48. Merus had a negative return on equity of 38.89% and a negative net margin of 680.61%. The firm had revenue of $9.14 million for the quarter, compared to analysts’ expectations of $10.57 million. Equities analysts predict that Merus will post -3.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Merus

Institutional investors have recently made changes to their positions in the business. State of Wyoming bought a new stake in Merus in the fourth quarter worth $48,000. Wells Fargo & Company MN lifted its stake in shares of Merus by 27.3% in the 4th quarter. Wells Fargo & Company MN now owns 1,400 shares of the biotechnology company’s stock valued at $59,000 after acquiring an additional 300 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Merus in the 4th quarter valued at about $60,000. Avior Wealth Management LLC purchased a new stake in Merus during the 4th quarter valued at about $76,000. Finally, Lazard Asset Management LLC bought a new position in Merus during the 4th quarter worth approximately $84,000. Hedge funds and other institutional investors own 96.14% of the company’s stock.

About Merus

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.