Merus (NASDAQ:MRUS) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Merus (NASDAQ:MRUS) in a research report released on Friday morning, MarketBeat.com reports. The firm issued an overweight rating and a $91.00 target price on the biotechnology company’s stock.

A number of other brokerages have also recently issued reports on MRUS. UBS Group started coverage on shares of Merus in a research note on Thursday, October 24th. They issued a “buy” rating and a $72.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $85.00 price target on shares of Merus in a research report on Monday, December 9th. Guggenheim reaffirmed a “buy” rating and set a $109.00 price objective (down from $111.00) on shares of Merus in a research note on Tuesday, December 3rd. HC Wainwright reissued a “buy” rating and issued a $85.00 target price on shares of Merus in a research note on Monday, December 2nd. Finally, The Goldman Sachs Group started coverage on Merus in a research report on Thursday, November 21st. They set a “buy” rating and a $73.00 price target on the stock. One research analyst has rated the stock with a sell rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $86.08.

Merus Stock Down 0.7 %

Shares of MRUS opened at $41.25 on Friday. Merus has a 1 year low of $37.66 and a 1 year high of $61.61. The stock has a 50 day simple moving average of $42.17 and a two-hundred day simple moving average of $47.82.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Merus by 10.4% in the 3rd quarter. FMR LLC now owns 6,873,926 shares of the biotechnology company’s stock worth $343,421,000 after purchasing an additional 648,994 shares during the period. Wellington Management Group LLP lifted its holdings in Merus by 73.6% in the third quarter. Wellington Management Group LLP now owns 2,887,514 shares of the biotechnology company’s stock worth $144,260,000 after buying an additional 1,224,573 shares during the period. Franklin Resources Inc. boosted its position in Merus by 7.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,256,504 shares of the biotechnology company’s stock valued at $117,722,000 after acquiring an additional 150,341 shares in the last quarter. Holocene Advisors LP grew its holdings in shares of Merus by 4.1% during the 3rd quarter. Holocene Advisors LP now owns 1,637,988 shares of the biotechnology company’s stock worth $81,834,000 after acquiring an additional 64,122 shares during the period. Finally, Lord Abbett & CO. LLC grew its stake in Merus by 83.0% in the third quarter. Lord Abbett & CO. LLC now owns 723,988 shares of the biotechnology company’s stock worth $36,171,000 after purchasing an additional 328,316 shares during the period. 96.14% of the stock is owned by hedge funds and other institutional investors.

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.