MRUS - Merus a positive Catalyst Watch at Citi ahead of ASCO presentation

Citi, which has a buy rating on Merus (NASDAQ:MRUS), is adding the biotech to its Catalyst Watch list ahead of presenting updated early-stage data on zenocutuzumab at the American Society of Clinical Oncology (OTC:ASCO) meeting in June. The firm lowered its price target by $1 to $37 (~134% upside based on Wednesday's close). Analyst Yigal Nochomovitz sees 80% possibility of success for zenocutuzumab, adding that phase 1/2 data to be presented at ASCO "to solidify the path forward to a tumor-agnostic BLA filing within the next ~6-12 months." He added he is expecting to see maintenance and potentially improvement of the objective response rate in a larger cohort and a median duration of response greater than six months. Seeking Alpha's Quant Rating views Merus (MRUS) as a hold.

For further details see:

Merus a positive Catalyst Watch at Citi ahead of ASCO presentation