Merus (NASDAQ:MRUS) Shares Purchased by Deerfield Management Company L.P. Series C

Deerfield Management Company L.P. Series C boosted its position in shares of Merus (NASDAQ:MRUS) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,749,401 shares of the biotechnology company’s stock after purchasing an additional 100,000 shares during the period. Merus accounts for approximately 2.7% of Deerfield Management Company L.P. Series C’s portfolio, making the stock its 7th biggest position. Deerfield Management Company L.P. Series C’s holdings in Merus were worth $162,682,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD bought a new position in shares of Merus in the 1st quarter valued at approximately $53,377,000. Marshall Wace LLP lifted its holdings in Merus by 813.3% in the 2nd quarter. Marshall Wace LLP now owns 957,952 shares of the biotechnology company’s stock worth $56,682,000 after purchasing an additional 853,060 shares during the last quarter. Logos Global Management LP acquired a new stake in Merus in the 2nd quarter worth approximately $50,294,000. Avoro Capital Advisors LLC lifted its holdings in Merus by 52.4% in the 2nd quarter. Avoro Capital Advisors LLC now owns 1,355,000 shares of the biotechnology company’s stock worth $80,175,000 after purchasing an additional 466,112 shares during the last quarter. Finally, Artal Group S.A. acquired a new stake in Merus in the 1st quarter worth approximately $20,492,000. Institutional investors and hedge funds own 96.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MRUS. Canaccord Genuity Group upgraded Merus to a “strong-buy” rating in a report on Thursday, July 25th. Stifel Nicolaus upped their price target on Merus from $90.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Canaccord Genuity Group reiterated a “buy” rating and set a $67.00 price target on shares of Merus in a report on Thursday, July 25th. Bank of America reiterated a “buy” rating and set a $76.00 price target on shares of Merus in a report on Tuesday, June 25th. Finally, Needham & Company LLC cut their price target on Merus from $92.00 to $85.00 and set a “buy” rating for the company in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $80.20.

Merus Price Performance

Merus stock opened at $47.50 on Thursday. The stock has a fifty day moving average price of $51.60 and a two-hundred day moving average price of $49.97. Merus has a 52-week low of $19.81 and a 52-week high of $61.61. The firm has a market capitalization of $3.24 billion, a P/E ratio of -17.15 and a beta of 1.12.

Merus (NASDAQ:MRUS) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.05). Merus had a negative return on equity of 36.33% and a negative net margin of 476.41%. The company had revenue of $7.33 million for the quarter, compared to analyst estimates of $9.64 million. On average, equities research analysts predict that Merus will post -3.27 EPS for the current fiscal year.

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.