UBS Starts Merus N.V. (MRUS) at Buy

UBS analyst David Dai initiates coverage on Merus N.V. (NASDAQ: MRUS) with a Buy rating and a price target of $72.00.

The analyst comments: "We initiate coverage of MRUS with Buy and $72 PT. We like MRUS for three key reasons: 1) We believe petosemtamab is a potentially best-in-class therapy in head and neck cancer and could become the new standard of care. 2) Petosemtamab's opportunity in 2L+ head and neck cancer appears underappreciated (risk-adjusted peak sales of $880M), and we see high likelihood of a positive Phase 2 readout in 2H24 to drive NT upside. 3) Petosemtamab's Phase 3 trial in 1L head and neck cancer would likely show positive data in the long run and we expect clinically meaningful survival benefits exceeding the current standard of care."

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 $52.31 yesterday.

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