Merus (NASDAQ:MRUS) Sets New 12-Month High – Should You Buy?

Shares of Merus N.V. (NASDAQ:MRUS) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $96.98 and last traded at $96.92, with a volume of 1304104 shares trading hands. The stock had previously closed at $96.82.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MRUS shares. Citigroup cut Merus from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $101.00 to $97.00 in a report on Monday, September 29th. Barclays reissued an “equal weight” rating and issued a $97.00 target price (down previously from $112.00) on shares of Merus in a research report on Tuesday, September 30th. Wells Fargo & Company restated an “equal weight” rating and issued a $97.00 price target (up from $95.00) on shares of Merus in a research note on Monday, September 29th. Alliance Global Partners initiated coverage on shares of Merus in a research note on Monday, August 25th. They issued a “buy” rating and a $90.00 price objective for the company. Finally, HC Wainwright downgraded shares of Merus from a “buy” rating to a “neutral” rating and cut their price objective for the company from $135.00 to $97.00 in a report on Monday, September 29th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Merus currently has a consensus rating of “Hold” and a consensus target price of $93.56.

Merus Price Performance

The business’s 50-day simple moving average is $95.47 and its two-hundred day simple moving average is $74.97. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of -18.29 and a beta of 1.06.

Insider Buying and Selling at Merus

In related news, VP Harry Shuman sold 1,700 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $96.10, for a total value of $163,370.00. Following the transaction, the vice president owned 11,002 shares in the company, valued at $1,057,292.20. The trade was a 13.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.70% of the company’s stock.

Hedge Funds Weigh In On Merus

Several institutional investors have recently added to or reduced their stakes in the business. Paradigm Biocapital Advisors LP grew its holdings in Merus by 99.4% in the first quarter. Paradigm Biocapital Advisors LP now owns 3,369,699 shares of the biotechnology company’s stock worth $141,831,000 after purchasing an additional 1,679,777 shares during the period. Wellington Management Group LLP grew its stake in shares of Merus by 34.9% in the 1st quarter. Wellington Management Group LLP now owns 4,718,172 shares of the biotechnology company’s stock valued at $198,588,000 after buying an additional 1,220,519 shares during the period. Magnetar Financial LLC bought a new stake in Merus in the 3rd quarter valued at about $98,406,000. Ameriprise Financial Inc. raised its stake in Merus by 1,007.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,133,857 shares of the biotechnology company’s stock worth $59,641,000 after buying an additional 1,031,457 shares during the period. Finally, Pentwater Capital Management LP acquired a new position in Merus during the 3rd quarter worth approximately $91,326,000. 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.