Merus price target raised to $44 from $38 at BofA

BofA raised the firm’s price target on Merus to $44 from $38 and keeps a Buy rating on the shares after the company hosted CEO Bill Lundberg to discuss expectations for the company in 2024. The firm continues to be encouraged by petosemtamab’s differentiated profile in second-line and later head and neck squamous cell carcinoma, or HNSCC, given the large unmet need and supporting potential competitive efficacy in first-line use, the analyst tells investors.