Mereo BioPharma Group (NASDAQ:MREO) Receives Buy Rating from Needham & Company LLC

Mereo BioPharma Group (NASDAQ:MREO)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports.

MREO has been the subject of several other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mereo BioPharma Group in a research report on Thursday, July 2nd. BTIG Research reissued a “buy” rating and set a $1.00 target price on shares of Mereo BioPharma Group in a research note on Tuesday. Finally, Zacks Research raised shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $3.25.

Mereo BioPharma Group Price Performance

Shares of MREO opened at $0.31 on Tuesday. The company’s fifty day moving average price is $0.31 and its 200-day moving average price is $0.34. Mereo BioPharma Group has a 1-year low of $0.20 and a 1-year high of $2.37. The firm has a market capitalization of $48.76 million, a PE ratio of -6.11 and a beta of 0.36.

Mereo BioPharma Group (NASDAQ:MREO) last issued its earnings results on Tuesday, August 11th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). As a group, research analysts anticipate that Mereo BioPharma Group will post -0.02 EPS for the current fiscal year.

Institutional Trading of Mereo BioPharma Group

Several large investors have recently added to or reduced their stakes in the stock. Marex Group plc purchased a new position in shares of Mereo BioPharma Group during the 2nd quarter worth $27,000. Virtu Financial LLC acquired a new position in Mereo BioPharma Group in the 3rd quarter valued at about $33,000. Forefront Analytics LLC grew its stake in shares of Mereo BioPharma Group by 302.2% in the 1st quarter. Forefront Analytics LLC now owns 127,778 shares of the company’s stock valued at $42,000 after buying an additional 96,010 shares during the period. Graham Capital Management L.P. acquired a new stake in shares of Mereo BioPharma Group during the 4th quarter worth approximately $48,000. Finally, Virtus Investment Advisers LLC raised its position in shares of Mereo BioPharma Group by 199.5% during the 4th quarter. Virtus Investment Advisers LLC now owns 122,595 shares of the company’s stock valued at $51,000 after buying an additional 81,665 shares during the period. 62.83% of the stock is currently owned by hedge funds and other institutional investors.

Mereo BioPharma Group Company Profile

Mereo BioPharma Group plc is a clinical?stage biopharmaceutical company focused on developing novel therapies for rare diseases, oncology and severe respiratory conditions. The company pursues an asset?centric model, in which it in-licenses or acquires clinical-stage small molecules and monoclonal antibodies with established safety profiles. By concentrating resources on a select number of programs, Mereo aims to accelerate proof-of-concept studies and maximize the potential value of each therapeutic candidate.

Mereo’s pipeline includes investigational therapies for skeletal disorders, such as setrusumab (BPS-804) for osteogenesis imperfecta, and treatments for acute and chronic respiratory diseases.