Merus (NASDAQ:MRUS) Shares Gap Up – Here’s Why

Shares of Merus (NASDAQ:MRUS) gapped up before the market opened on Thursday . The stock had previously closed at $42.93, but opened at $45.07. Merus shares last traded at $44.72, with a volume of 94,167 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MRUS shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 target price on shares of Merus in a report on Wednesday. Canaccord Genuity Group reiterated a “buy” rating and issued a $67.00 price objective on shares of Merus in a research report on Thursday, July 25th. Canaccord Genuity Group upgraded shares of Merus to a “strong-buy” rating in a research report on Thursday, July 25th. UBS Group initiated coverage on shares of Merus in a research report on Thursday, October 24th. They issued a “buy” rating and a $72.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $85.00 target price on shares of Merus in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $85.45.

Merus Stock Performance

The firm has a market cap of $3.04 billion, a PE ratio of -11.10 and a beta of 1.12. The stock has a fifty day moving average price of $50.58 and a 200-day moving average price of $51.86.

Merus (NASDAQ:MRUS) last released its earnings results on Thursday, October 31st. The biotechnology company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.05). The business had revenue of $11.77 million for the quarter, compared to analysts’ expectations of $9.11 million. Merus had a negative net margin of 680.61% and a negative return on equity of 38.89%. As a group, equities analysts predict that Merus will post -3.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Merus

Several institutional investors and hedge funds have recently made changes to their positions in the company. Gordian Capital Singapore Pte Ltd raised its position in shares of Merus by 10.4% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 5,000 shares of the biotechnology company’s stock valued at $250,000 after acquiring an additional 470 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Merus by 24.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,467 shares of the biotechnology company’s stock worth $118,000 after buying an additional 489 shares during the period. California State Teachers Retirement System increased its position in Merus by 2.9% in the first quarter. California State Teachers Retirement System now owns 33,745 shares of the biotechnology company’s stock worth $1,520,000 after buying an additional 936 shares during the period. nVerses Capital LLC increased its position in Merus by 750.0% in the third quarter. nVerses Capital LLC now owns 1,700 shares of the biotechnology company’s stock worth $85,000 after buying an additional 1,500 shares during the period. Finally, US Bancorp DE acquired a new stake in Merus in the third quarter worth $103,000. 96.14% of the stock is owned by institutional investors and hedge funds.

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.