Mereo BioPharma Group (NASDAQ:MREO) Given New $1.00 Price Target at BTIG Research

Mereo BioPharma Group (NASDAQ:MREO) had its price target decreased by equities researchers at BTIG Research from $6.00 to $1.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective would suggest a potential upside of 255.87% from the company’s current price.

A number of other equities analysts also recently issued reports on MREO. Weiss Ratings reissued a “sell (d-)” rating on shares of Mereo BioPharma Group in a research report on Wednesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of Mereo BioPharma Group in a research report on Monday, December 22nd. Zacks Research raised shares of Mereo BioPharma Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Mereo BioPharma Group in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Mereo BioPharma Group has a consensus rating of “Hold” and a consensus target price of $5.25.

Mereo BioPharma Group Stock Down 87.8%

MREO traded down $2.03 during trading hours on Monday, reaching $0.28. 176,790,703 shares of the company’s stock traded hands, compared to its average volume of 2,319,935. The firm has a 50-day moving average price of $1.98 and a 200 day moving average price of $2.00. The firm has a market capitalization of $44.72 million, a PE ratio of -4.65 and a beta of 0.45. Mereo BioPharma Group has a 52-week low of $0.20 and a 52-week high of $3.84.

Mereo BioPharma Group (NASDAQ:MREO) last released its earnings results on Monday, November 10th. The company reported ($0.01) earnings per share for the quarter. Equities analysts predict that Mereo BioPharma Group will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Mereo BioPharma Group

Several institutional investors and hedge funds have recently modified their holdings of MREO. Marex Group plc purchased a new stake in Mereo BioPharma Group during the 2nd quarter valued at about $27,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Mereo BioPharma Group during the 3rd quarter worth approximately $32,000. Virtu Financial LLC purchased a new stake in shares of Mereo BioPharma Group in the third quarter valued at approximately $33,000. Significant Wealth Partners LLC increased its holdings in shares of Mereo BioPharma Group by 61.7% in the second quarter. Significant Wealth Partners LLC now owns 22,261 shares of the company’s stock valued at $60,000 after purchasing an additional 8,490 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in Mereo BioPharma Group by 45.4% during the third quarter. Squarepoint Ops LLC now owns 30,055 shares of the company’s stock worth $62,000 after buying an additional 9,387 shares in the last quarter. Hedge funds and other institutional investors own 62.83% of the company’s stock.

About Mereo BioPharma Group

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.