Leerink Partners Downgrades Merus to Market Perform from Outperform, PT Raised to $97

Leerink Partners Downgrades Merus to Market Perform from Outperform, PT Raised to $97

Leerink Partners has downgraded Merus N.V. (MRUS) from Outperform to Market Perform, while raising its price target to $97 per share Leerink Partners raises Genmab stock price target on Merus acquisition^[1]. The move comes following Genmab A/S's (GMAB) acquisition of Merus, valued at approximately $8 billion. The acquisition, announced on September 29, 2025, aims to bolster Genmab's oncology portfolio Genmab A/S Acquires Merus N.V. to Enhance Oncology Portfolio^[2].

The acquisition includes Merus' late-stage asset, petosemtamab, a potential first- and best-in-class EGFR x LGR5 bispecific antibody. Genmab expects this addition to accelerate its transition to a wholly owned model and support sustained growth. The deal is anticipated to close by early in the first quarter of 2026 Genmab A/S Acquires Merus N.V. to Enhance Oncology Portfolio^[2].

Leerink Partners noted that the acquisition comes before initial petosemtamab data in colorectal cancer, expected in the second half of 2025, and ahead of potential topline interim readouts from Phase III head and neck cancer studies in 2026. These upcoming data points represent both risks and opportunities associated with the proposed transaction Leerink Partners raises Genmab stock price target on Merus acquisition^[1].

Merus' stock has surged by 38% following the acquisition announcement, highlighting the market's positive response to the deal. Over the past year, GMAB has reached a high of $29.52 and a low of $17.24, indicating a strong recovery and growth potential Genmab A/S Acquires Merus N.V. to Enhance Oncology Portfolio^[2].

Leerink Partners continues to view Genmab as a high-quality company with a demonstrated track record of success. The company's market capitalization is approximately $18.51 billion, with a trading volume of 5.03 million shares on the NASDAQ exchange Genmab A/S Acquires Merus N.V. to Enhance Oncology Portfolio^[2].