Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Stock Has Consensus Target Price of $1.67 According to Brokerages

Shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) have received an average recommendation of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $1.67.

A number of research analysts have recently issued reports on MREO shares. JPMorgan Chase & Co. lowered shares of Mereo BioPharma Group from a “neutral” rating to an “underweight” rating in a research note on Wednesday, August 19th. Needham & Company LLC reaffirmed a “buy” rating on shares of Mereo BioPharma Group in a report on Tuesday, August 11th. BTIG Research reaffirmed a “buy” rating and set a $1.00 price objective on shares of Mereo BioPharma Group in a report on Tuesday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mereo BioPharma Group in a research report on Tuesday, September 29th.

Hedge Funds Weigh In On Mereo BioPharma Group

A number of institutional investors and hedge funds have recently made changes to their positions in MREO. Bank of America Corp DE boosted its holdings in shares of Mereo BioPharma Group by 32,048.5% during the 1st quarter. Bank of America Corp DE now owns 8,195,287 shares of the company’s stock valued at $2,704,000 after acquiring an additional 8,169,795 shares during the last quarter. Defilade Capital Management L.P. acquired a new stake in Mereo BioPharma Group in the first quarter worth $2,494,000. EcoR1 Capital LLC increased its stake in shares of Mereo BioPharma Group by 70.2% in the first quarter. EcoR1 Capital LLC now owns 13,368,855 shares of the company’s stock valued at $4,412,000 after purchasing an additional 5,512,389 shares during the period. Finally, Forefront Analytics LLC grew its stake in shares of Mereo BioPharma Group by 302.2% in the first quarter. Forefront Analytics LLC now owns 127,778 shares of the company’s stock worth $42,000 after purchasing an additional 96,010 shares in the last quarter. 62.83% of the stock is owned by institutional investors and hedge funds.

Mereo BioPharma Group Stock Up 0.9%

NASDAQ MREO opened at $0.30 on Friday. Mereo BioPharma Group has a 52 week low of $0.20 and a 52 week high of $2.37. The firm’s 50-day simple moving average is $0.31 and its two-hundred day simple moving average is $0.33.

Mereo BioPharma Group (NASDAQ:MREO) last issued its quarterly earnings data on Monday, November 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $0.80 million during the quarter, compared to analysts’ expectations of $0.02 million. As a group, research analysts forecast that Mereo BioPharma Group will post -0.04 EPS for the current fiscal year.

About Mereo BioPharma Group

Mereo BioPharma Group plc is a clinical-stage biopharmaceutical company focused on developing therapies for rare diseases and oncology. The company’s research programs are intended to address conditions with significant unmet medical needs, using biologic and small-molecule drug candidates. Mereo’s lead program is setrusumab, an investigational monoclonal antibody designed to inhibit sclerostin and stimulate bone formation. The therapy is being developed for osteogenesis imperfecta, a rare genetic disorder characterized by fragile bones, through a collaboration with Ultragenyx Pharmaceutical.