Zacks: Brokerages Anticipate Merus (NASDAQ:MRUS) Will Announce Quarterly Sales of $26.13 Million

Wall Street brokerages expect Merus (NASDAQ:MRUS) to post $26.13 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Merus’ earnings, with the lowest sales estimate coming in at $6.60 million and the highest estimate coming in at $46.30 million. Merus reported sales of $6.30 million in the same quarter last year, which indicates a positive year-over-year growth rate of 314.8%. The business is scheduled to issue its next earnings report on Monday, May 10th.

According to Zacks, analysts expect that Merus will report full year sales of $48.01 million for the current year, with estimates ranging from $31.40 million to $69.24 million. For the next year, analysts forecast that the company will report sales of $35.30 million, with estimates ranging from $13.33 million to $72.70 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Merus.

Merus (NASDAQ:MRUS) last released its earnings results on Monday, March 15th. The biotechnology company reported ($1.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.53). Merus had a negative net margin of 295.98% and a negative return on equity of 78.70%.

Several equities analysts recently commented on MRUS shares. Royal Bank of Canada increased their target price on shares of Merus from $15.00 to $21.00 and gave the company a “sector perform” rating in a report on Tuesday, March 23rd. Zacks Investment Research raised shares of Merus from a “sell” rating to a “hold” rating in a research report on Saturday, March 20th. Roth Capital increased their price target on shares of Merus from $19.00 to $32.00 in a research report on Tuesday, January 19th. SVB Leerink assumed coverage on shares of Merus in a research report on Monday, March 22nd. They set an “outperform” rating and a $33.00 price target for the company. Finally, William Blair assumed coverage on shares of Merus in a research report on Thursday. They set an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Merus has a consensus rating of “Buy” and an average target price of $25.50.

Shares of MRUS stock traded down $0.23 on Monday, hitting $23.06. 59,159 shares of the company’s stock traded hands, compared to its average volume of 179,676. Merus has a one year low of $10.18 and a one year high of $31.27. The company’s fifty day simple moving average is $22.26 and its 200 day simple moving average is $18.70. The stock has a market capitalization of $879.21 million, a price-to-earnings ratio of -7.51 and a beta of 0.83.

In related news, major shareholder Bvf Partners L. P/Il bought 79,500 shares of the company’s stock in a transaction dated Monday, March 22nd. The stock was purchased at an average cost of $22.75 per share, with a total value of $1,808,625.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Bvf Partners L. P/Il bought 844,680 shares of the company’s stock in a transaction dated Thursday, January 21st. The stock was bought at an average cost of $24.75 per share, with a total value of $20,905,830.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 1,174,180 shares of company stock valued at $28,464,455. Corporate insiders own 7.40% of the company’s stock.

Several large investors have recently bought and sold shares of MRUS. BlackRock Inc. lifted its position in shares of Merus by 3.5% in the 3rd quarter. BlackRock Inc. now owns 74,391 shares of the biotechnology company’s stock worth $893,000 after purchasing an additional 2,534 shares during the period. State Street Corp increased its stake in shares of Merus by 94.9% in the 3rd quarter. State Street Corp now owns 26,268 shares of the biotechnology company’s stock worth $315,000 after acquiring an additional 12,790 shares in the last quarter. UBS Asset Management Americas Inc. bought a new position in shares of Merus in the 3rd quarter worth about $142,000. Renaissance Technologies LLC bought a new position in shares of Merus in the 4th quarter worth about $435,000. Finally, Credit Suisse AG bought a new position in shares of Merus in the 4th quarter worth about $186,000. 62.57% 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 discovery and development of bispecific antibody therapeutics in the Netherlands. Its bispecific antibody candidate pipeline includes Zenocutuzumab (MCLA-128), which is in a phase 2 clinical trial for the treatment of patients with metastatic breast cancer, as well as in Phase 1/2 for the pancreatic and lung cancer, and other solid tumors.

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