Merus (MRUS – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ami Fadia from Needham reiterated a Buy rating on the stock and has a $66.00 price target.
Ami Fadia’s rating is based on the strategic collaboration between Merus and Gilead, which he considers a significant validation of Merus’s Triclonics platform. This partnership is not only a testament to the platform’s potential but also brings in a noteworthy $81 million in funding, a substantial figure given Merus’s quarterly operating expenses exceeding $50 million in 2023. The funding supports the company’s financial stability and contributes to its growth prospects.
Moreover, Fadia perceives the current market valuation of Merus’s stock as not fully reflecting the value added by these types of partnerships, which he suggests could unlock additional value for shareholders. With expectations of exploring further partnerships to distribute the development and commercialization risks of additional assets, such as Zeno and MCLA-129, there is a strong case for optimism. Fadia’s increased price target to $66 and the reiterated Buy rating are in anticipation of potentially positive Peto data expected in the second quarter of 2024.
In another report released on February 29, Canaccord Genuity also maintained a Buy rating on the stock with a $54.00 price target.
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Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MRUS in relation to earlier this year.
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Merus (MRUS) Company Description:
Merus NV is a clinical-stage immune-oncology company, which engages in the discovery and development of bi-specific antibody therapeutics. Its pipeline includes Biclonics for solid and hematological tumors. The company was founded by Ton Logtenberg on June 16, 2003 and is headquartered in Utrecht, Netherlands.
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