Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Receives $1.67 Average PT from Analysts

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) has received an average recommendation of “Hold” from the eight brokerages that are currently 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 given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $1.6667.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MREO. Defilade Capital Management L.P. purchased a new position in shares of Mereo BioPharma Group during the first quarter valued at approximately $2,494,000. Bank of America Corp DE grew its stake in 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 raised its holdings in Mereo BioPharma Group by 70.2% in the 1st quarter. EcoR1 Capital LLC now owns 13,368,855 shares of the company’s stock valued at $4,412,000 after acquiring an additional 5,512,389 shares during the last quarter. Forefront Analytics LLC raised its holdings in 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 acquiring an additional 96,010 shares during the last quarter. Finally, 683 Capital Management LLC lifted its stake 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 purchasing an additional 10,150,000 shares during the period. 62.83% of the stock is currently owned by hedge funds and other institutional investors.

Mereo BioPharma Group Stock Up 4.4%

NASDAQ:MREO opened at $0.30 on Thursday. Mereo BioPharma Group has a 52-week low of $0.20 and a 52-week high of $2.37. The stock has a fifty day simple moving average of $0.29 and a 200-day simple moving average of $0.31. The company has a market capitalization of $48.39 million, a PE ratio of -7.57 and a beta of 0.32.

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

Mereo BioPharma Group Company Profile

Mereo BioPharma Group plc is a clinical-stage biopharmaceutical company focused on developing medicines for rare diseases and other serious conditions with limited treatment options. The company’s activities include the discovery, development and potential commercialization of targeted therapies, often through collaborations and licensing arrangements.

Mereo’s lead program is setrusumab, an investigational monoclonal antibody designed to inhibit sclerostin and stimulate bone formation.