Merus (NASDAQ:MRUS) Now Covered by Canaccord Genuity Group

Posted by on Nov 4th, 2023

Research analysts at Canaccord Genuity Group initiated coverage on shares of Merus (NASDAQ:MRUS – Get Free Report) in a research note issued on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $45.00 price target on the biotechnology company’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 80.87% from the company’s previous close.

MRUS has been the subject of several other reports. Citigroup dropped their price objective on Merus from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Thursday, August 10th. Stifel Nicolaus decreased their price target on shares of Merus from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, October 24th. StockNews.com started coverage on shares of Merus in a research report on Thursday, October 5th. They set a “sell” rating for the company. TD Cowen assumed coverage on shares of Merus in a research report on Monday, August 21st. They issued an “outperform” rating on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $48.00 price target on shares of Merus in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $44.00.

Read Our Latest Stock Report on Merus

Merus Stock Up 13.4 %

MRUS stock opened at $24.88 on Thursday. The company’s 50-day moving average price is $22.43 and its two-hundred day moving average price is $23.04. The firm has a market cap of $1.24 billion, a P/E ratio of -6.45 and a beta of 0.74. Merus has a 12 month low of $12.44 and a 12 month high of $27.70.

Merus (NASDAQ:MRUS – Get Free Report) last announced its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.86) by $0.20. Merus had a negative net margin of 432.68% and a negative return on equity of 69.89%. The business had revenue of $10.48 million during the quarter, compared to the consensus estimate of $10.38 million. Equities analysts predict that Merus will post -3.07 EPS for the current year.

Institutional Trading of Merus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRUS. California State Teachers Retirement System increased its position in shares of Merus by 2.1% during the first quarter. California State Teachers Retirement System now owns 26,440 shares of the biotechnology company’s stock worth $486,000 after buying an additional 539 shares during the period. Vanguard Group Inc. grew its holdings in Merus by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 120,889 shares of the biotechnology company’s stock worth $3,196,000 after acquiring an additional 638 shares during the period. Citigroup Inc. raised its position in shares of Merus by 29.4% in the 4th quarter. Citigroup Inc. now owns 3,530 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 803 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Merus by 142.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,477 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 867 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Merus by 107.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,811 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 938 shares in the last quarter. Institutional investors and hedge funds own 90.68% 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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Analyst Recommendations for Merus (NASDAQ:MRUS)

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