Merus poised for growth heading into latter half of 2019, says Wedbush

Wedbush analyst David Nierengarten believes Merus (MRUS) has a data-rich 2019 ahead, with key catalysts expected from lead bispecific candidates MCLA-128 in metastatic breast cancer in 2H19, MCLA-117 in r/r AML in 2H19 and MCLA-145 in metastatic colorectal cancer by YE19. The analyst notes that Merus has also resolved the ongoing IP dispute with Regeneron (REGN), which included a cross-license patent agreement and a $15M equity investment by Regeneron in Merus, which valued the 600k share private issuance at $25/share, a 118% premium over the stock’s close December 20. Nierengarten sees the company as poised for growth heading into the latter half of 2019. He reiterates an Outperform rating and $34 price target on Merus shares.
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