Biotech Stock Boosted on Brand-New 'Buy' Rating

The share are looking to snap an eight-day losing streak

Laura McCandless

Deputy Editor

Nov 21, 2024 at 10:48 AM

MRUS

Biotech stock Merus NV (NASDAQ:MRUS) is up 3.4% at $44.40 at last glance, though pulling back a bit from its premarket surge, after Goldman Sachs initiated coverage with a "buy" rating. The firm cited potential growth from the company's cancer treatment.

Today's pop has MRUS looking to snap an eight-day losing streak. The stock dropped below long-term support at the 200-day moving average during this most recent pullback, which ended today at $42. This level also coincides with MRUS' pre-bull gap level in April. Year to date, the equity is up 58.3%.

Analysts are wholeheartedly bullish on Merus stock, with all 17 in coverage carrying a "buy" or better rating. Plus, the 12-month consensus price target of $86.60 is a 98.4% premium to current levels.

Options traders have been optimistic as well. MRUS' 50-day call/put volume ratio of 6.88 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks in the 93rd percentile of its annual range.

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.