Zacks Investment Research upgraded shares of Merus (NASDAQ:MRUS) from a hold rating to a buy rating in a research note issued to investors on Tuesday, Zacks.com reports. Zacks Investment Research currently has $19.00 target price on the biotechnology company’s stock.
According to Zacks, “Merus B.V. is a clinical-stage immuno-oncology company developing bispecific antibody therapeutics, referred to as Biclonics. The company’s bispecific antibody candidate, MCLA-128, is being evaluated in a Phase 1/2 clinical trial as a potential treatment for HER2-expressing solid tumors; MCLA-117, is being developed as a potential treatment for acute myeloid leukemia and MCLA-158, which is designed to bind to cancer stem cells and is being developed as a potential treatment for colorectal cancer and other solid tumors. Merus B.V. is headquartered in Utrecht, the Netherlands. “
Other analysts have also recently issued research reports about the company. Roth Capital assumed coverage on Merus in a research report on Friday, June 28th. They set a buy rating and a $20.00 target price for the company. BidaskClub upgraded Merus from a hold rating to a buy rating in a research report on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $23.29.
NASDAQ:MRUS opened at $20.00 on Tuesday. Merus has a 12-month low of $11.00 and a 12-month high of $20.95. The stock has a 50-day moving average price of $16.48 and a 200 day moving average price of $14.80. The stock has a market capitalization of $382.78 million, a P/E ratio of -10.87 and a beta of 0.23.
Several large investors have recently added to or reduced their stakes in the stock. Morgan Stanley grew its holdings in Merus by 3.1% during the 2nd quarter. Morgan Stanley now owns 92,776 shares of the biotechnology company’s stock valued at $1,359,000 after buying an additional 2,788 shares in the last quarter. Athanor Capital LP purchased a new position in Merus during the 2nd quarter valued at approximately $334,000. Artal Group S.A. grew its holdings in Merus by 16.7% during the 2nd quarter. Artal Group S.A. now owns 350,000 shares of the biotechnology company’s stock valued at $5,128,000 after buying an additional 50,000 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Merus by 63.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,722 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 3,389 shares in the last quarter. Finally, Granite Investment Partners LLC purchased a new position in Merus during the 1st quarter valued at approximately $468,000. Hedge funds and other institutional investors own 52.00% of the company’s stock.
Merus Company Profile
Merus N.V., a clinical-stage immuno-oncology company, engages in developing bispecific antibody therapeutics. Its bispecific antibody candidate pipeline includes MCLA-128, which is in a Phase II clinical trial for the treatment of patients with metastatic breast cancer; and Phase I/II study for treating gastric, ovarian, endometrial, and non-small cell lung cancers.
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