William Blair analyst Matt Phipps has maintained their bullish stance on MRUS stock, giving a Buy rating today.
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Matt Phipps has given his Buy rating due to a combination of factors that highlight Merus’s potential in the biotechnology sector. The company is actively engaged in the development of petosemtamab for treating head and neck squamous cell carcinoma (HNSCC) and metastatic colorectal cancer (mCRC). A significant focus is on the anticipated data readout for mCRC in the latter half of 2025, which could serve as a pivotal moment for the company’s growth prospects.
Merus’s ongoing studies, which include petosemtamab combined with chemotherapy across different treatment lines, are designed to address unmet medical needs in mCRC. The management’s strategic approach, including the exclusion of prior EGFR inhibitor treatments in certain cohorts, and the focus on patients with wild-type KRAS, underscores the potential for positive outcomes. Despite the initial Phase I study showing no responses, the heavily pretreated patient population and the mix of RAS types in that study provide context for the current trials’ design and expectations. These strategic efforts and the upcoming data readout are key drivers behind the Buy rating.
In another report released today, Needham also maintained a Buy rating on the stock with a $96.00 price target.