Merus (MRUS – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst John Newman from Canaccord Genuity maintained a Buy rating on the stock and has a $67.00 price target.
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John Newman’s rating is based on several compelling factors. The most significant is the impressive progress of Merus’s petosemtamab in treating Head and Neck Squamous Cell Carcinoma (HNSCC). The FDA has granted a second Breakthrough Designation due to encouraging data from Phase 1/2 trials, which suggests a potentially expedited regulatory process.
Furthermore, Merus anticipates releasing updated Phase 3 data in 2025, which could reinforce the positive initial findings and potentially boost the stock value. The data presented at ASCO in 2024 demonstrated a high Overall Response Rate, further supporting the efficacy of petosemtamab. These developments, coupled with the FDA’s ongoing support and the promising biclonic approach, underpin the Buy rating and the $67 price target.
In another report released yesterday, LifeSci Capital also maintained a Buy rating on the stock with a $100.00 price target.