Wells Fargo & Company Lowers Merus (NASDAQ:MRUS) Price Target to $89.00

Merus (NASDAQ:MRUS) had its price target decreased by Wells Fargo & Company from $91.00 to $89.00 in a research report sent to investors on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the biotechnology company’s stock.

Several other equities analysts have also recently issued reports on the company. Piper Sandler initiated coverage on Merus in a research note on Thursday, February 13th. They issued an “overweight” rating and a $84.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $85.00 price target on shares of Merus in a research note on Monday, March 3rd. Bank of America dropped their price objective on shares of Merus from $73.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. William Blair restated an “outperform” rating on shares of Merus in a report on Monday, April 28th. Finally, Guggenheim reiterated a “buy” rating and set a $109.00 target price on shares of Merus in a research note on Friday, March 28th. One research analyst has rated the stock with a sell rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Merus currently has a consensus rating of “Buy” and a consensus price target of $85.15.

Merus Stock Performance

Shares of MRUS opened at $41.32 on Thursday. The stock has a market capitalization of $2.86 billion, a PE ratio of -10.46 and a beta of 0.94. The company’s 50-day simple moving average is $43.51 and its 200-day simple moving average is $44.10. Merus has a 1 year low of $33.19 and a 1 year high of $61.61.

Merus (NASDAQ:MRUS) last posted its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($1.40) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.23). The business had revenue of $26.49 million during the quarter, compared to analyst estimates of $7.82 million. Merus had a negative return on equity of 38.89% and a negative net margin of 680.61%. On average, sell-side analysts predict that Merus will post -3.85 earnings per share for the current year.

Institutional Trading of Merus

Several institutional investors and hedge funds have recently bought and sold shares of MRUS. GAMMA Investing LLC grew its position in Merus by 2,153.6% during the 1st quarter. GAMMA Investing LLC now owns 631 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 603 shares during the last quarter. State of Wyoming purchased a new position in shares of Merus during the fourth quarter worth about $48,000. Wells Fargo & Company MN increased its position in 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 period. GF Fund Management CO. LTD. acquired a new stake in Merus during the 4th quarter worth approximately $60,000. Finally, Avior Wealth Management LLC purchased a new position in shares of Merus in the 4th quarter valued at approximately $76,000. 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.