Mereo BioPharma Group (NASDAQ:MREO) Releases Earnings Results, Misses Estimates By $0.03 EPS

Mereo BioPharma Group (NASDAQ:MREO) announced its quarterly earnings data on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03), Zacks reports.

Mereo BioPharma Group Trading Down 5.6 %

Shares of MREO opened at $2.35 on Wednesday. Mereo BioPharma Group has a one year low of $2.25 and a one year high of $5.02. The company’s fifty day moving average price is $2.76 and its 200 day moving average price is $3.52.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MREO. Lifesci Capital initiated coverage on Mereo BioPharma Group in a research note on Tuesday, December 24th. They set an “outperform” rating and a $10.00 price target for the company. Jefferies Financial Group started coverage on shares of Mereo BioPharma Group in a research note on Friday, December 6th. They issued a “buy” rating and a $7.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research note on Monday, January 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price objective on shares of Mereo BioPharma Group in a research note on Tuesday, March 18th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Mereo BioPharma Group currently has a consensus rating of “Buy” and an average target price of $7.83.

About Mereo BioPharma Group

Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom, the United States, and internationally. It develops Etigilimab (MPH-313), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors.