Merus (MRUS) PT Doubled to $32 at Wedbush Amid Incyte Deal

Wedbush analyst David Nierengarten raised his price target on Outperform-rated Merus N.V. (NASDAQ: MRUS) to $32.00 (from $16.00) after the company and Incyte announced a collaboration to develop up to eleven bispecific antibody research programs using MRUS’s Biclonics platform, including two of MRUS’s current preclinical immuno-oncology discovery programs.

"We believe the collaboration is a strong validation of MRUS’s bispecific antibody generation technologies, and provides a partner with a strong focus on immunotherapy and oncology, and significant commercialization and development expertise," Nierengarten said.

For an analyst ratings summary and ratings history on Merus N.V. click here. For more ratings news on Merus N.V. click here.

Shares of Merus N.V. closed at $14.15 yesterday.

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