William Blair analyst Matt Phipps has maintained their bullish stance on MRUS stock, giving a Buy rating yesterday.
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Matt Phipps has given his Buy rating due to a combination of factors related to Merus’s recent developments and strategic positioning. The company has reported promising first-quarter financial results and is making significant progress in its clinical trials, particularly with petosemtamab in combination with Keytruda for treating recurrent/metastatic head and neck squamous cell carcinoma (R/M HNSCC). The management’s expectation of substantial enrollment in the Phase III trials by the end of 2025, along with the potential for accelerated approval under the FDA’s Project FrontRunner, adds to the optimism surrounding the stock.
Additionally, the recent market weakness in Merus shares is perceived as a buying opportunity, especially given the company’s strategic focus on manufacturing in the United States and Europe. The confidence in the company’s ability to navigate FDA uncertainties and the encouraging developments from similar trials, such as Genmab’s plans to file under Project FrontRunner, further reinforce the positive outlook. These factors collectively underpin Matt Phipps’s Buy rating for Merus’s stock.
In another report released yesterday, LifeSci Capital also maintained a Buy rating on the stock with a $110.00 price target.