Analysts Set Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Target Price at $3.25

Shares of Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) have been assigned an average rating of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $1.6667.

Several analysts recently commented on the company. JPMorgan Chase & Co. restated an “underweight” rating on shares of Mereo BioPharma Group in a research report on Wednesday, August 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mereo BioPharma Group in a research report on Thursday, July 2nd. Zacks Research raised Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. BTIG Research reissued a “buy” rating and set a $1.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, August 11th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Mereo BioPharma Group in a report on Tuesday, August 11th.

Hedge Funds Weigh In On Mereo BioPharma Group

Several large investors have recently bought and sold shares of the stock. 683 Capital Management LLC raised its position in shares of Mereo BioPharma Group by 208.2% during the 4th quarter. 683 Capital Management LLC now owns 15,025,000 shares of the company’s stock worth $6,261,000 after buying an additional 10,150,000 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Mereo BioPharma Group by 32,048.5% in the 1st quarter. Bank of America Corp DE now owns 8,195,287 shares of the company’s stock worth $2,704,000 after acquiring an additional 8,169,795 shares during the period. EcoR1 Capital LLC bought a new position in shares of Mereo BioPharma Group in the fourth quarter valued at approximately $3,274,000. Defilade Capital Management L.P. bought a new position in shares of Mereo BioPharma Group in the first quarter valued at approximately $2,494,000. Finally, Schonfeld Strategic Advisors LLC increased its stake in shares of Mereo BioPharma Group by 251.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 6,090,381 shares of the company’s stock valued at $2,538,000 after acquiring an additional 4,357,657 shares during the period. Institutional investors and hedge funds own 62.83% of the company’s stock.

Mereo BioPharma Group Trading Down 2.2%

NASDAQ MREO opened at $0.27 on Friday. Mereo BioPharma Group has a 52 week low of $0.20 and a 52 week high of $2.37. The stock has a market cap of $43.44 million, a price-to-earnings ratio of -6.80 and a beta of 0.36. The company has a 50-day moving average price of $0.31 and a two-hundred day moving average price of $0.32.

Mereo BioPharma Group (NASDAQ:MREO) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). As a group, equities research analysts expect that Mereo BioPharma Group will post -0.04 earnings per share for the current fiscal year.

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.