Merus (NASDAQ:MRUS) Downgraded by Guggenheim to Hold

Merus (NASDAQ:MRUS) was downgraded by investment analysts at Guggenheim from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research firms have also weighed in on MRUS. Alliance Global Partners began coverage on Merus in a research note on Monday, August 25th. They set a “buy” rating and a $90.00 price objective on the stock. UBS Group lowered Merus from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $72.00 to $97.00 in a research note on Tuesday. Barclays reissued an “equal weight” rating and set a $97.00 price objective (down previously from $112.00) on shares of Merus in a research note on Tuesday. William Blair lowered Merus from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Truist Financial downgraded Merus from a “buy” rating to a “hold” rating and lifted their target price for the company from $88.00 to $97.00 in a research report on Monday. Four investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Merus currently has a consensus rating of “Hold” and an average target price of $92.88.

Merus Price Performance

Shares of NASDAQ:MRUS opened at $94.15 on Monday. The business’s 50 day moving average price is $67.77 and its 200-day moving average price is $55.12. The firm has a market capitalization of $7.12 billion, a PE ratio of -17.12 and a beta of 1.19. Merus has a 1 year low of $33.19 and a 1 year high of $94.56.

Merus (NASDAQ:MRUS) last released its quarterly earnings data on Tuesday, August 5th. The biotechnology company reported ($2.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($1.06). The company had revenue of $8.83 million for the quarter, compared to analyst estimates of $9.77 million. Merus had a negative return on equity of 50.28% and a negative net margin of 685.64%. As a group, analysts expect that Merus will post -3.85 earnings per share for the current year.

Insider Activity

In related news, COO Peter B. Silverman sold 25,000 shares of the business’s stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $60.00, for a total value of $1,500,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 48,500 shares of company stock valued at $2,792,500. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Merus

Institutional investors and hedge funds have recently modified their holdings of the company. GF Fund Management CO. LTD. increased its holdings in Merus by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 1,753 shares of the biotechnology company’s stock worth $74,000 after purchasing an additional 315 shares during the period. Knights of Columbus Asset Advisors LLC increased its holdings in Merus by 2.7% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 13,785 shares of the biotechnology company’s stock worth $580,000 after purchasing an additional 361 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Merus by 15.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,674 shares of the biotechnology company’s stock worth $141,000 after purchasing an additional 362 shares during the period. Avanza Fonder AB increased its holdings in Merus by 14.1% during the 2nd quarter. Avanza Fonder AB now owns 3,136 shares of the biotechnology company’s stock worth $165,000 after purchasing an additional 387 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Merus by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,101 shares of the biotechnology company’s stock worth $257,000 after purchasing an additional 511 shares during the period. Hedge funds and other institutional investors own 96.14% of the company’s stock.

Merus Company Profile

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.