Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) Receives $4.40 Consensus PT from Brokerages

Mereo BioPharma Group plc – Sponsored ADR (NASDAQ:MREO) has been given an average rating of “Hold” by the eight research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $4.40.

A number of analysts have recently issued reports on MREO shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Mereo BioPharma Group in a research note on Monday, December 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of Mereo BioPharma Group in a research note on Monday, December 22nd. Wall Street Zen cut shares of Mereo BioPharma Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Jefferies Financial Group lowered Mereo BioPharma Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, Robert W. Baird set a $1.00 price target on Mereo BioPharma Group in a research note on Monday, December 29th.

Mereo BioPharma Group Price Performance

NASDAQ:MREO opened at $0.57 on Friday. The business’s 50-day moving average is $1.63 and its two-hundred day moving average is $1.81. The firm has a market capitalization of $90.27 million, a PE ratio of -9.46 and a beta of 0.42. Mereo BioPharma Group has a 12 month low of $0.20 and a 12 month high of $3.39.

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

Institutional Trading of Mereo BioPharma Group

A number of hedge funds have recently made changes to their positions in MREO. Frazier Life Sciences Management L.P. raised its stake in shares of Mereo BioPharma Group by 20.7% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 9,440,112 shares of the company’s stock valued at $25,583,000 after purchasing an additional 1,620,249 shares in the last quarter. Atle Fund Management AB increased its holdings in Mereo BioPharma Group by 96.1% in the second quarter. Atle Fund Management AB now owns 764,901 shares of the company’s stock valued at $2,073,000 after buying an additional 374,901 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Mereo BioPharma Group by 0.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company’s stock valued at $4,783,000 after buying an additional 6,068 shares in the last quarter. Aberdeen Group plc lifted its holdings in Mereo BioPharma Group by 38.4% during the 2nd quarter. Aberdeen Group plc now owns 3,028,872 shares of the company’s stock worth $8,208,000 after buying an additional 840,518 shares during the last quarter. Finally, Significant Wealth Partners LLC grew its position in shares of Mereo BioPharma Group by 61.7% in the 2nd quarter. Significant Wealth Partners LLC now owns 22,261 shares of the company’s stock worth $60,000 after acquiring an additional 8,490 shares in the last quarter. Institutional investors and hedge funds own 62.83% of the company’s stock.

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.