Franklin Resources Inc. Increases Stake in Merus (NASDAQ:MRUS)

Franklin Resources Inc. boosted its holdings in shares of Merus (NASDAQ:MRUS) by 7.1% during the 3rd quarter, Holdings Channel reports. The fund owned 2,256,504 shares of the biotechnology company’s stock after buying an additional 150,341 shares during the period. Franklin Resources Inc.’s holdings in Merus were worth $117,722,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of Merus by 30.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 40,633 shares of the biotechnology company’s stock worth $2,404,000 after purchasing an additional 9,488 shares during the period. Legato Capital Management LLC bought a new stake in Merus during the second quarter valued at about $616,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Merus by 41.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,847 shares of the biotechnology company’s stock valued at $523,000 after purchasing an additional 2,572 shares during the last quarter. Nicholas Investment Partners LP bought a new position in Merus in the second quarter worth about $4,763,000. Finally, First Turn Management LLC purchased a new stake in shares of Merus during the second quarter valued at about $19,047,000. Hedge funds and other institutional investors own 96.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MRUS. Needham & Company LLC restated a “buy” rating and issued a $85.00 price target on shares of Merus in a report on Monday, December 9th. Citigroup raised their price target on shares of Merus from $89.00 to $97.00 and gave the company a “buy” rating in a report on Monday, December 9th. Guggenheim reiterated a “buy” rating and issued a $109.00 target price (down from $111.00) on shares of Merus in a research note on Tuesday, December 3rd. UBS Group initiated coverage on shares of Merus in a research note on Thursday, October 24th. They issued a “buy” rating and a $72.00 target price for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Merus in a research note on Thursday, November 21st. They issued a “buy” rating and a $73.00 target price for the company. One investment analyst has rated the stock with a sell rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $85.64.

Merus Price Performance

NASDAQ:MRUS opened at $42.83 on Monday. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -10.84 and a beta of 1.07. The company has a 50 day moving average price of $48.97 and a 200-day moving average price of $51.50. Merus has a 1-year low of $24.07 and a 1-year high of $61.61.

Merus (NASDAQ:MRUS) last issued its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.05). The company had revenue of $11.77 million during the quarter, compared to analysts’ expectations of $9.11 million. Merus had a negative return on equity of 38.89% and a negative net margin of 680.61%. On average, sell-side analysts anticipate that Merus will post -3.89 earnings per share 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.