Tuesday - Truist Securities has increased its price target for Merus N.V. (NASDAQ:MRUS) to $88 from the previous $69, while keeping a Buy rating on the stock. This adjustment follows the presentation of full data at the American Society of Clinical Oncology (ASCO) meeting.
The full dataset presented at ASCO revealed no negative surprises, particularly with the swimmer plot—a graphical representation used in clinical trials. Truist Securities expressed satisfaction with the results, indicating a positive stance on the data's implications.
The analyst at Truist Securities believes that the pivotal trial for Merus could demonstrate a significant advantage over Pembro, a reference to pembrolizumab, an existing cancer therapy. The expectation is based on the recent data and the potential for Merus's treatment to offer compelling benefits.
Merus's financial position is also highlighted as a strength, with the firm having sufficient cash reserves to fund ongoing development. This financial stability is seen as a factor that could put Merus in a favorable position for potential deals.
In summary, Truist Securities reaffirms its Buy rating on Merus N.V. and raises the price target to $88, based on the latest clinical data and the company's solid financial footing.
In other recent news, Merus N.V. has been the focus of several analyst revisions following promising data presented at the American Society of Clinical Oncology (ASCO) meeting. BMO Capital Markets raised the price target on Merus shares to $91, maintaining an Outperform rating, due to confidence in the company's clinical programs. The firm's optimism was specifically tied to the positive results from petosemtamab's use in treating squamous-cell head and neck cancer (HNSCC).
Moreover, Merus presented data on its investigational drug MCLA-129, a potential treatment for non-small-cell lung cancer (NSCLC). The study demonstrated notable response rates and was generally well-tolerated. TD Cowen maintained a Buy rating on Merus, reflecting the promising data from the recent trial.
Additionally, H.C. Wainwright and BofA Securities increased their price targets for Merus shares, indicating a positive outlook on the company's potential.
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