Next week, Merus is expected to report its Q1, 2017 results. Walewicz thinks the company will report EBITDA of $9.8-million on revenue of $29.1-million. The analyst says negative sentiment on the stock currently reigns, but he is expecting some relative positives.
“Given the weak F2017 guidance provided in December, and the related stock sell off, investor expectations for the quarter are low,” says Walewicz. “Despite this, we expect top and bottom line growth driven by the UCB and Sanofi products (acquired in Q2/F16), only slightly offset by a contraction in Emselex (pricing in Germany). We should see continued pressure on margins due to elevated COGS (pending Sintrom tech transfer) and higher Opex (elevated until H2/F17). Note that F/X moves could be a very slight headwind – key currency (Euro) depreciation was small (
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