Merus (NASDAQ:MRUS) Upgraded at Citigroup

Citigroup upgraded shares of Merus (NASDAQ:MRUS) from a neutral rating to a buy rating in a research note released on Monday, The Fly reports.

MRUS has been the subject of a number of other reports. Royal Bank of Canada boosted their price objective on shares of Merus from $15.00 to $21.00 and gave the stock a sector perform rating in a report on Wednesday, March 17th. HC Wainwright upped their price objective on Merus from $23.00 to $30.00 and gave the stock a buy rating in a research note on Wednesday, March 17th. SVB Leerink reaffirmed a buy rating and issued a $33.00 target price on shares of Merus in a report on Sunday, May 9th. Zacks Investment Research raised shares of Merus from a sell rating to a hold rating in a report on Saturday, March 20th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of Merus from a neutral rating to a buy rating and increased their price objective for the company from $24.00 to $31.00 in a report on Monday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $26.83.

Merus stock opened at $23.65 on Monday. The firm’s 50 day moving average price is $22.18. The company has a market cap of $906.98 million, a PE ratio of -9.10 and a beta of 0.63. Merus has a fifty-two week low of $10.18 and a fifty-two week high of $31.27.

Merus (NASDAQ:MRUS) last posted its quarterly earnings data on Thursday, May 6th. The biotechnology company reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.08). Merus had a negative net margin of 248.38% and a negative return on equity of 57.90%. As a group, research analysts forecast that Merus will post -2.13 earnings per share for the current fiscal year.

In other Merus news, major shareholder Bvf Partners L. P/Il bought 79,500 shares of Merus stock in a transaction that occurred on Monday, March 22nd. The stock was purchased at an average price of $22.75 per share, with a total value of $1,808,625.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Bvf Partners L. P/Il bought 250,000 shares of Merus stock in a transaction that occurred on Tuesday, March 16th. The shares were acquired at an average cost of $23.00 per share, with a total value of $5,750,000.00. The disclosure for this purchase can be found here. Company insiders own 2.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRUS. UBS Group AG increased its holdings in Merus by 214.8% in the first quarter. UBS Group AG now owns 2,899 shares of the biotechnology company’s stock valued at $61,000 after buying an additional 1,978 shares in the last quarter. Credit Suisse AG purchased a new stake in shares of Merus during the fourth quarter worth about $186,000. Old Well Partners LLC purchased a new stake in shares of Merus during the first quarter worth about $224,000. PDT Partners LLC purchased a new stake in shares of Merus during the first quarter worth about $298,000. Finally, Geode Capital Management LLC increased its stake in shares of Merus by 26.1% during the first quarter. Geode Capital Management LLC now owns 15,032 shares of the biotechnology company’s stock worth $314,000 after purchasing an additional 3,113 shares in the last quarter. 69.69% of the stock is owned by institutional investors.

Merus Company Profile

Merus N.V., a clinical-stage immuno-oncology company, engages in the discovery and development of bispecific antibody therapeutics in the Netherlands. Its bispecific antibody candidate pipeline includes Zenocutuzumab (MCLA-128), which is in a phase 2 clinical trial for the treatment of patients with metastatic breast cancer, as well as in Phase 1/2 for the pancreatic and lung cancer, and other solid tumors.

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